When a girl dips her nipple into some sort of dipping sauce, and have a male (or female) lick it off.
"Hey, Charlotte lets go nip dip in some ketchup, and have steve and joe lick it off!"
by Adam and Lenny September 03, 2006
a no regret entry into a cold lake
connor took a veritable nip dip in an alberta lake in may
by Kirsten Reich May 19, 2008