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When a females nipples potrude out to the point they are visible through her clothing.
Damn son did you see that bicthes tits the were nipped out!
nip out by j-dog October 10, 2003

Nip Out, Lip Out 

When a girl returns from a night out with her breast exposed and her skirt rolled up so high that one of her labia's has entered the view of sight. In other words.. Nip Out, Lip Out
Goodness, did you guys see Sally come back from the Townhouses last night. She was so wasted she practically came back Nip Out, Lip Out
Nip Out, Lip Out by Grandpa Campion December 17, 2011

Make like Janet Jackson and nip out 

To pop out for a brief period of time, like Janet Jackson's nipple at the Superbowl.
I'm just going to make like Janet Jackson and nip out - anyone want anything?

the out of control nip 

When two good friends (usually girls) are lying on a couch next to each other eating snacks together, laughing, and watching TV, and then out of nowhere, they start wiggling their bodies, going crazy, and screaming like linda blair from the exorcist!
Ali: Hahahaha this is my fave episode of family guy.

Hayley: I know, but before it starts, its time for.....

Ali: The out of control nip!

Both girls: AHHHA AHHH AHAHHAAH AHOOOOOO AFHADLIEJAO