Definitions

from The American Heritage® Dictionary of the English Language, 4th Edition

  • adj. Likely to tip or tilt: a tippy racing shell; a tippy card table.

from Wiktionary, Creative Commons Attribution/Share-Alike License

  • adj. Fashionable, tip-top.
  • adj. In the height of fashion, excellent, cool.
  • adj. Clever, neat, smart.
  • adj. Of tea, having a large amount of tips, or leaf buds.
  • n. A dandy.
  • adj. Tending to tip or tilt over; unstable.

from The Century Dictionary and Cyclopedia

  • Liable to tip; given to tipping or tumbling; wabbling; unsteady.
  • Characterized by a tipping action or movement, as a person; hence, gingerly; smart; fine.

from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.

  • adj. (used of boats) inclined to heel over easily under sail

Etymologies

1790, tip (“apex”) +‎ -y. Sense of “clever” may be influenced by tip ("n., inside information"). (Wiktionary)
1886, tip (“knock over”) +‎ -y. (Wiktionary)

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