The spelling of the word "chipps" is incorrect. According to the International Phonetic Alphabet (IPA), the correct spelling of the word would be "chips," which is pronounced as /tʃɪps/. The symbol /tʃ/ represents the "ch" sound, while /ɪ/ represents the vowel sound in "bit." The final /s/ represents the unvoiced "s" sound. It is important to use correct spelling in communication to avoid confusion and ensure clear understanding of the message.