The combination of the words "cool" and "whip." The epitome of Awesomeness. Can also be used in any exciting situation, and if used correctly can be used to escape a particularily uninviting situation. Must be used with caution for only those cool and Awesome enough can use this word without looking like a complete douche.
One cannot simply walk into Coolip.
by CortyBunns July 17, 2011