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1.
To gain a (Whiplash injury) through a staged car crash and then claim compensation for your whiplash injury. Commonly used in the north west region of england prodominantly wigan.
Hey, Dean.

Shall we set up a car crash tonight.

Reply: Yeah i could do with a WHIPPY.
by Marc (the poodle) jaggs May 08, 2009
5 9
 
2.
Whippy is a new word that was made in 2007 that you use when you want to say something is cool, tight, nice, chill(OK).
Ryan: What do you think about my new car?
Vinnie: I think it's whippy.
Ryan: Haha. You better think that.
Vinnie: Why?
Ryan: It was a lot of money.
Vinnie: Haha.
by Vincent R. February 26, 2007
9 21