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1.
The unfortunate act of really fucking up bad without the ability to fix an error. Almost always involving an authority figure or close relationship! You are in a "nail clipper" when you have to cut your fingernails so you won't scratch your ankles while you take it in the bum for being stupid. Worse than being "fucked"!
Damn! When my boss finds out, it's going to be a nail clipper!

I am FUCKED! I just did a nail clipper!

When a really rich man gives his wife herpes after 12 years of wedlock. He's gonna get a nail clipper!
by LayItOnYou March 17, 2007
 
2.
What you (may or may not) use to clip your nails.
Hey, pass me them damn nail clippers, My toenails are bloody huge!
by cool_penguin_0 January 28, 2005