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1) A male with a circumcised schlong (putz).

2) The actual dong itself with it's "permanent haircut".

3) By extension, the term has also been used to describe entire groups of people who practice circumcision for religious, cultural or other reasons. "Clipped dick" has been noticeably applied as slang for Jewish people.
There goes Frank. He's got a clipped dick.

There goes Frank. He's a clipped dick.
by Frank Klaune January 02, 2005
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