To knip is to firmly take hold of something. It's not tied to a persons grip, as various objects can wrap around or squish stuff
inbetween to perform a knip.
It can also define a person being in a dire situation -
The feeling of being squished
in the moment.
Example #1
Tyrone: "Dude, how was
last night with Jessica? Did you make
sweet love?"
James: "Nah dude, just some cuddle and some knip.
Tyrone: "You cuck"
Example #2
Letter from Landlord: "Time to pay up, TODAY!"
Travis: "Fuck, im out of money."
George: "Ey, you're kniped man."