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1.
Verb.

A word mash-up between "positive" and "gossip."

The act of speaking positively about and/or building people up people behind their back, without their consent or awareness.
Gabe: "Nathan is the best instructor I've ever seen."
Evan: "He puts the rest of the professors at this college to shame."
Gabe: "He is someone I am happy to possip about."
Nathan: *off somewhere else, oblivious to his compliments*

Mary: "I love Paukert."
Luke: "Yeah, he's a really good guy."
Paukert: *at the local grocery store, nowhere near Luke nor Mary*
by JustDelightful January 26, 2010
 
2.
Possible Gossip. A conclusion one draws about what others are doing that is just so juicy that it would be tantamount to criminality if that possibility wasn't released as gossip.
An example of possip in action is: "Such and such MUST be doing so and so - just look at the {quite possibly flimsy} evidence."
by oilsbloke February 16, 2010