1)NOUN - Something you say when some one does or says somthing stupid.
2)VERB - Hitting some one on the back of the head after they do somthing dumb or stupid.
3)VERB - A motion used to "dip" some one by putting your hands out straight with fingers together and plams facing eachother and moving them up and down. Like waving straight out in front of you sideways.
Often people make their own ways to "dip" like, "CHIP PARTY! I'LL BRING THE DIP" etc.
1)No man thats a dip!
2)No no! Give me my dip! (hits on the back of the head)
3)Sally: Hey we should go ding dong ditch Toms house!
Fred: Nope nope thats a dip! (does motion)