A criminal; a derogatory acronym for justice-involved person, the new official San Francisco PC term to replace the apparently derogatory term "convicted felon".
Guy: "Holy shit man! I just got gypped by a JIP in the Tenderloin!"
Pal: "JIPs will gyp you, that's for sure. Don't hang around the Loin, bro. That area is super jippy."
Abbreviation of the term "Jizz In Pants". Referring to the release of cum in a premature matter that results in the underwear of the individual being saturated with the for-mentioned byproduct.
Originally created by the band called The Lonely Island on the album Turtlenecks and Chains released in September 2011.