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It's a "slur" against Japanese people or people of Japanese descent. It derives from the romanized Japanese word for Japan, Nippon.
The Japanese bombed Pearl Harbor! Let's take out those damn nips!
Not (non) important person(people).A South African slang which is the opposite of VIP.
Of course you can't go through,you are one of the NIPs
a small amount of weed from 1 gram to under 0.5 grams
Oh fuck i only got a nip left in my bag
The hardening of cold or frozen nipples
I got really bad nip shot right now
Nipping someone with your fucking toes!!
Crab nip a girl with your toes and watch her scream and ask for a twix