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n. (Can be disparaging) The Japanese.

The term's origin was in World War II, when it was often used by Americans in the context of decrying the perceived treachery, cunning, and craziness of the Japanese.
Joe: "Did you know that in Japan, you can buy a 14-year-old's used panties from a vending machine?"

Bob: "Those crazy nips."
by Carl Willis August 25, 2004
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penith spelt back words, code word for a gay person
Trevor: Dood did you see that thenip over there?!?!

Todd:yeah that was pretty gross
by Trod Elniz September 24, 2007
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