Nip

Nip is a derogatory term for a Japanese person. It is derived from "Nippon", the Japanese term for Japan. Usage in this context probably peaked around the time of World War II. It is seldom, if ever, used this way today.
NIPS, Neural Information Processing Systems (NIPS) is a computational statistics conference held annually in Canada.
Nip can also refer to a small quantity (mostly of a drink), such as a shot, of liquor.
Nip is also used as part of the expression nip and tuck, originally a close contest, but now more often a slang. reference to plastic surgery.
NiP can be short for Ninjas in Pyjamas, a well-known and highly successful Counter-Strike clan.
Possibly the most common modern usage is in the expression nipped in the bud, a reference to something ended before it reached its full potential. Example: The athlete's career was nipped in the bud by major injuries.

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