YIP YAP was a charitable organization created to purchase books for Yergi Plimkin.
- President and founder - Toody Tululu
- Vice President - Nunzio Benidici
- Treasurer - Molly Moskins
- Sargent-at-arms - Rollo Tookus
There was also a budget mix-up, which resulted in the belief that money was stolen from YIP YAP. As Sargent-at-Arms, Rollo Tookus hired Failure, Inc to find out what happened. This provided Timmy with an excuse to run rampant around Chicago with Molly after discovering that his mother was getting married.
After returning from Chicago, Molly was grounded and not allowed to come to meetings. Toody revealed to the remaining board members of the organization and Timmy that she had mixed up the budget, and the money was never missing. It did buy Yergi his books, but as they were not in his language, he used them to mount his llama instead. YIP YAP was presumably dissolved and reorganized into REAREND (Remodel Everything And Repurchase Entirely New Dresser), an organization devoted to remodeling Toody's room.