A small piece that has been cut off from something. She used a snip of fabric to patch the hole in her jeans.
An act of cutting something with scissors or shears, especially in a quick, small motion. With a quick snip, the hairdresser trimmed the customer's bangs.
A small or insignificant person or thing. He dismissed the young intern as just a snip in the grand scheme of the company.
A vasectomy; the surgical procedure for male sterilisation (usually preceded by “the”). After their third child, he decided to get the snip.
A bargain or something obtained for a very low price (chiefly British, informal, usually preceded by “a”). Those designer shoes were a snip at only £30.