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This has now changed! The word is now used with reference to pikey or chav areas/behaviour/clothing and attitude.
'Look at that gipnut' / 'the area was so gipnut'
by bunnyears November 12, 2004

Words related to gipnut

chav gippo pikey
See gippo
A more 'affectionate' insult, for use on your nearest and dearest.
You are SUCH a gipnut
by bunnyears May 04, 2004