The rubbing (in a circular motion) of another persons Nipples with the index or middle fingers - causing them to laugh loudly and be generally incapacitated - usually occurs when in bed as a form of comic punishment.
If you don't get me a tissue, I'll give you the Nip Nop Shit!
when you finish a dum dum sucker by biting the sucker leaving a little bit of the sucker on the stick and then your bro hands you another sucker but spits on it
"man i was a shit stick up a tree but then my bro was like"
'here i have a bit dip in da nip tip"
aka
a shit stick up a tree is like a bit dip in da nip tip