a great person; someone who excels at almost anything he/she does; dipshook is used as an extremely complimentary distinction.
That guy is so great. He is a real dipshook.
A person who should be shunned from all man kind; a terrible person; a bitchy personality.
In some cases the word is used to describe a compulsive cheater especially in the game Apples to Apples.
"Alex why did you cheat? Your a dipshook"