Source : Webster's Revised Unabridged Dictionary (1913)

Kip \Kip\, n.
   The hide of a young or small beef creature, or leather made
   from it; kipskin.

   {Kip leather.} See {Kipskin}.

Kip \Kip\, n. [Cf. G. kippe.]
   1. A sharp-pointed hill; a projecting point, as on a hill.
      [Scot.]

   2. (Gymnastics) A method or feat of raising the body when
      hanging or swinging by the arms, as for the purpose of
      mounting upon the horizontal bar. The legs are swung
      forward and upward by bending the hips, then suddenly down
      again, which gives the upward impulse to the body.

Source : WordNet®

kip
     n 1: sleep; "roused him from his kip"
     2: the basic unit of money in Laos
     3: a gymnastic exercise performed starting from a position with
        the legs over the upper body and moving to an errect
        position by arching the back and swinging the legs out and
        down while forcing the chest upright [syn: {upstart}]
     [also: {kipping}, {kipped}]

kip
     v : be asleep [syn: {sleep}, {slumber}, {log Z's}, {catch some
         Z's}] [ant: {wake}]
     [also: {kipping}, {kipped}]