<unit, graphics> 1/1440th of an inch, 1/20 of a printer's point. There are [approximately?] 1440 twips to a logical inch or 567 twips to a logical centimeter.
This unit of measurement seems only to have seen use in Microsoft formats and products- notably Rich Text Format, Visual BASIC, and Visual C++.
[Why "twip"?]
(26 July 1996)