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1.
A style of tire mounting where a smaller width tire is "stretched" onto a much wider rim.

This creates a "stretched" or bubble shaped widewall appearance.
"Dude, those hippari style rims look sick on your AE86!"
av drivesan89caravan 12 december 2007
 
2.
Gay. Likes boys and loves to take cock into ass.
He's so hippari! OMG! PLZ!
av Eetteri 8 mars 2005