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2.
Similar to "oh damn", used in an awkward or difficult situation.
"The Saturn navcom reports are ready!"
"Oh Dip!"
by Rustle January 16, 2007
 
1.
An exclamatory phrase, usually expressing disbelief at a third party's offensive behavior, or when the speaker is in an uneasy situation; variant of "Oh, snap!".
-"That guy just cut me off!"
-"Oh, dip!"
by Tadhg August 16, 2003
 
3.
A funnier way of saying oh shit or oh crap. Commonly used by residents of Niagra Falls, NY.
"That scary chick from the 3rd floor wants you."
"Oh dips!"
by Adam from 8B October 31, 2007