any sort of stupid refrence to anything or anyone. it is an adjective and always will be one. never use it as a name, you'd just be a dipwad your self.
Somebody who is stupid or annoying. Most likely came from the usage of "dip" a tobacco product that's usage involves dipping ones lip into a pile of it. The meaning of dipwad is literally a wad of dip, created by ones saliva, which is quite an unpleasant thing.