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Chip

v. t.
  1. To cut small pieces from; to diminish or reduce to shape, by cutting away a little at a time; to hew.
  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.
    4. To chip in ,
    to contribute, as to a fund; to share in the risks or expenses of.

v. i.
  1. To break or fly off in small pieces.

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.
    7. 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.
    Potato chips, Saratoga chips ,
    thin slices of raw potato fried crisp.