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1) an abbreviation for 3 Inch Penis, generically applied to any especially small penis.

2) Any person that has an especially small penis
"Man, I heard Justin got drunk and pulled out his 3IP in front of some ladies."

"Dude, 3IP wore a speedo to the beach. He's gonna have to go remascalute after the jokes them girls was cracking.Pe"
by GhandiOwnsYou September 28, 2007
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