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1.
Similiar to 'Big Ups' this is a way of throwing props to someone, saying thank you, showing respects, etc.
Hey Greg, Nice Ups for hooking me up with the Ice Cube 7Inch. It bumps.
by Millhouse March 11, 2004
 
2.
In the sport of disc golf when a player makes a nice shot at the basket other players in the group may say "nice up". Basically it means nice shot. Note this is note said for a nice drive, just approach shots.
I was hundreds of feet from the basket, i hurled my disc and nailed it! Joe slapped me five and said "nice up!"
by sourdeez May 19, 2009