A term used to describe a fear of a potential or actual encounter with a gypsy, or someone who will offer to sell them gypsy treasures (e.g. Pegs).
James: "Some gypsy in a caravan is outside asking people to buy some pegs, or they'll curse them! I bought ten, just to be safe."

Matt: "...but I don't want any pegs! I'd go sort them out and kick them and the horse they rode in on outta town.... but I fear gypsies and their magic powers. I suffer from Gyppophobia!"
by oh_herro! August 05, 2009

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