\Chip\ (ch[i^]p), v. t. [imp. & p. p. {Chipped} (ch[i^]pt);
p. pr. & vb. n. {Chipping}.] [Cf. G. kippen to cut off the
edge, to clip, pare. Cf. {Chop} to cut.]
1. To cut small pieces from; to diminish or reduce to shape,
   by cutting away a little at a time; to hew. --Shak.
2. To break or crack, or crack off a portion of, as of an
   eggshell in hatching, or a piece of crockery.
3. To bet, as with chips in the game of poker.
{To chip in}, to contribute, as to a fund; to share in the
   risks or expenses of. [Slang. U. S.]

\Chip\, v. i.
To break or fly off in small pieces.

\Chip\, n.
1. A piece of wood, stone, or other substance, separated by
   an ax, chisel, or cutting instrument.
2. A fragment or piece broken off; a small piece.
3. Wood or Cuban palm leaf split into slips, or straw plaited
   in a special manner, for making hats or bonnets.
4. Anything dried up, withered, or without flavor; -- used
   contemptuously.
5. One of the counters used in poker and other games.
6. (Naut.) The triangular piece of wood attached to the log
   line.
{Buffalo chips}. See under {Buffalo}.
{Chip ax}, a small ax for chipping timber into shape.
{Chip bonnet}, {Chip hat}, a bonnet or a hat made of Chip.
   See {Chip}, n., 3.
{A chip off the old block}, a child who resembles either of
   his parents. [Colloq.] --Milton.
{Potato chips}, {Saratoga chips}, thin slices of raw potato
   fried crisp.