(1)Someone who is stupid or someone elses bitch.
(2)One who has moronicly stated the obvious.
(3)A person who has fallen for something easily, and thus had his body dipped in shit by those who own him.
(noun) One who is lacking in mental capability to understand life's simplest things, such as completing a simple task given or simply opening a jar of mayonnaise without assistance.
1) "Wow, you drank that entire gallon of lethal fluids? You're such a dipshit!"
2) Anyone with lower than a 12th Grade education is often a dipshit or does dipshit type things.
3) Every Will Ferrell Movie involves his character being a dipshit.
4) "Wow, did you just run into a door? You're such a dipshit!"