Source : Webster's Revised Unabridged Dictionary (1913)

Quip \Quip\, n. [Cf. W. chwip a quick flirt or turn, chwipio to
   whip, to move briskly, and E. whip. Cf. {Quib}, {Quibble}.]
   A smart, sarcastic turn or jest; a taunt; a severe retort; a
   gibe.

         Quips, and cranks, and wanton wiles.     --Milton.

         He was full of joke and jest, But all his merry quips
         are o'er.                                --Tennyson.

Quip \Quip\, v. t. [imp. & p. p. {Quipped}; p. pr. & vb. n.
   {Quipping}.]
   To taunt; to treat with quips.

         The more he laughs, and does her closely quip.
                                                  --Spenser.

Quip \Quip\, v. i.
   To scoff; to use taunts. --Sir H. Sidney.

Source : WordNet®

quip
     v : make jokes or quips; "The students were gagging during
         dinner" [syn: {gag}]
     [also: {quipping}, {quipped}]

quip
     n 1: a witty saying [syn: {epigram}]
     2: witty remark [syn: {wisecrack}, {crack}, {sally}]
     [also: {quipping}, {quipped}]