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1.
A penis and a nipple hence "pp" and "nips" using childish phrases its a word that can be said when there is nothing to talk about you simply say, "Pp-Nips!"
Ning: I'm bored.
Farrell (responding after minutes of dead silence): Pp-Nips!
by Sam Chu February 25, 2004
 
2.
nipples that stick out or come to an exceeding point.
My, that old man has pp nips.
by 009 July 16, 2003