Kip is not really my style, but I have a friend whose name is
Kristina who goes by
Kip.
The nickname is barely related to her name itself. Her grandmother gave it to her intending it to stand for "
Kristina is patient." It stuck because there were so many
Kristina's at her school.
I guess my point is that you can nickname a child whatever you want without it having to fit his or her formal name perfectly.