Something which you wear on your nipples that can have decorations (sparkles,string,streamers,etc.) on it for show. Mostly used on women in strip clubs, but they have men's too.
"I was at the strip club and this girl had glitter nipple tassels!"
by alstermusician November 15, 2013
When you rub/flick your nipples with sheer force and urge.
"Excuess me miss what nice nipples you have"
"Why thank you"
"Do you mind if i nipple tassel(ing) you?"
by Militzz August 31, 2015