A chip is a small, typically round, flat piece used as a form of currency to represent a specific value in a poker game. Poker chips are used for betting and keeping track of the money in play during a hand or tournament. They come in various colors and denominations, with each color corresponding to a specific value. The chips are used to place bets, call, raise, and make various wagers on the poker table. Poker chips serve as a standardized and convenient way to handle and represent the currency in poker games.