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I'll take a potato chip... AND EAT IT! 

A famous quote from the anime Death Note said by the protagonist Light Yagami. In the show, Light uses a book called the Death Note to kill criminals under the alias Kira. When his home is bugged with multiple cameras by the detective L after he suspects Light to be Kira, Light devises a plan in which he hides a miniature TV in a bag of potato chips. By doing this, he can kill criminals that are being broadcast live but from the perspective of L’s surveillance he is just studying for his exams. Light has given himself an alibi since L thinks he has no way of obtaining information on the criminals being killed. To celebrate his victory over L’s cameras, he gloats in his internal monologue while eating his chip.
Light: “Just watch me, L! I'll solve equations with my right hand and write names with my left. I'll take a potato chip... AND EAT IT!”

dip dip potato chip 

A rhyming couplet meaning to teabag or the act of doing it
I shot that noob, walked up to his corpse and went all "dip dip potato chip" on him
dip dip potato chip by arg72 June 1, 2014

Alabama potato chip 

The act of nutting on another persons back multiple times and letting it dry up, after it dry up you peel it off and enjoy a good snack.
Denny: you maui wanna try the alabama potato chip
Maui: sure denny daddy

I will take a potato chip... and EAT IT! 

This is a rather popular quote from the dubbed version of the anime; Death Note. All anime fans know this quote and it is possibly one of the most epic anime moments ever.
Kira: I will take a potato chip... and EAT IT!
Fangirls: ZOMG HE IS SO CUTE AND FUNNY LET'S WATCH IT AGAIN!
Kira: I will take a potato chip... and EAT IT!
Fangirls: *faints*

california potato chip 

when you shoot a girl in the back with a load and it dries overnight. in the morning you peel it off and feed it to her for breakfast potato chip style
i fed holly a califrnia potato chip