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1.
The act of connecting the tip of ones penis to the nipple of another, simply for the sheer fun of it - often proceeded by screaming loudly 'NIPTIPPP!'
Jay: How did it go with that guy last night?
Ida: Well, pretty well until he niptip'd me.
Jay: No fucking way! He niptip'd you?!
Ida: Yep, simple whapped it out, hit my nip with the tip and screamed 'THISS ISSS NIPTIPPP!'
by Synermatic December 08, 2012
4 0
 
2.
Stupid, overused, annoyingly loud, unhealthy-sounding mufflers. Generally used on Japanese import cars, but sometimes on American compacts.

a.k.a. Fart-Cannon
I just got a new nip tip for my Camry, doesn't it sound fast now?
by redneck2420 August 18, 2005
9 7
 
3.
When a male places the eye on the tip of his penis around a female's nipple. Thus, making the nipple disappear caused by the surrounding penis tip.
Yo dude I totally gave my bitch a Nip Tip last night. She moaned so loud.
by Gagina January 30, 2011
1 3