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Noun. A person or animal that doesn't mind their own business. Especially prevalent in pre-teen children. Has nothing to do with dipshit
Nipshit: "What is that, what is that, what is that"
Response: "It's a nipshit trap and you just got caught."

"That damn nipshit dog got into the thrash again"
by Easysleeper August 17, 2012
formed when you put nip and shit.
like dipshit, but nip.
japanese shit.
Dude, Sho's a nipshit.
by 4N0NiiM0U$ August 03, 2008