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A phrase used when one is stating that he or she is not feeling a situation or worried about something.
1) Person 1: "This party is going to be awesome...but that skank is going to be here."

Person 2: "Oh dip not my chip! Are you serious!?"

2) Person 1: "Oh snap! I think I see a cop over there!"

Person 2: "Oh dip not my chip!, we gotta leave and now!"
by Scheezy and Peezy July 25, 2009
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