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Takes on a variety of meanings, usually having positive connotations in relation to success, more specifically, after taking a large hit off of any type of smoking apparatus; for some reason unbenknownst to anyone, fat chicks tend to take the fattest rips.
"C'mon man, everybody needs a little fat rips now and then."

"Woah! Did you see that fit chick just blowing her fat rips all over the place?"
by General Confuscious November 02, 2011