What is a chippy?

I heard it on the Simpsons episode where Homer becomes the Beer Baron. The narrator says "Wasting no time, Rex Banner tore into the bootleggers like a chippy tearing into a lobster." A quick search turned up an amazing website, http://www.sex-lexis.com/, which gives the following definition:

chippy:or: chippie, a disparaging term, possibly derived from cheap / cheaply / cheapy, for:
1. A wild or delinquent young girl , usually sexually active or promiscuous . See playgirl for synonyms.
2. A prostitute . See prostitute for synonyms.
3. A cheap woman .

Yes, I get a vivid image of a ravenous chippy diving full bore into a lobster while her cultured, mustachioed benefactor genteelly eats his own, bemused at her uncouth behavior. Sort of like the entire movie 'Pretty Woman'.