1.) A three-legged supporting stand used to hold an object in place
2.) A man sporting a large penis
3.) A group of three friends who are mutually dependant on each other, and privileged to tell people that they have TWO best friends
"Let me set up the tripod so I can take the photo"
Guy: "Your friend Dave's ego is through the roof"
Kev "Yea, he's a tripod"
Guy: "Are you worried about falling out of contact with your old college buddies?"
Ben: "no ones will kick a leg out of the tripod"