variants:
or nip-slip \ ˈnip-ˌslip 
\
\ plural nip slips or nip-slips
Definition of nip slip
informal
: accidental and usually public exposure of a woman's nipple
The Oscars is an elegant event, but even a classy affair couldn't stop an inevitable nip slip.— Ashleigh Schmitz As most know, Super Bowl coverage in the past has seen its fair share of turmoil. Most infamously, Janet Jackson's legendary nip-slip of 2004 almost cost CBS more than $500,000 in Federal Communications Commission fines.— Lee McDade
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Time Traveler for nip slip
The first known use of nip slip was in 2002
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