Etymology
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Words related to biped

bi- 
word-forming element meaning "two, having two, twice, double, doubly, twofold, once every two," etc., from Latin bi- "twice, double," from Old Latin dvi- (cognate with Sanskrit dvi-, Greek di-, dis-, Old English twi-, German zwei- "twice, double"), from PIE root *dwo- "two."

Nativized from 16c. Occasionally bin- before vowels; this form originated in French, not Latin, and might be partly based on or influenced by Latin bini "twofold" (see binary). In chemical terms, it denotes two parts or equivalents of the substance referred to. Cognate with twi- and di- (1).
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*ped- 

Proto-Indo-European root meaning "foot."

It forms all or part of: antipodes; apodal; Arthropoda; babouche; biped; brachiopod; cap-a-pie; centipede; cephalopod; cheliped; chiropodist; expedite; expedition; foot; foosball; fetch (v.); fetter; fetlock; gastropod; hexapod; impair; impede; impediment; impeach; impeccable; isopod; millipede; octopus; Oedipus; ornithopod; pajamas; pawn (n.2) "lowly chess piece;" peccadillo; peccant; peccavi; pedal; pedestrian; pedicel; pedicle; pedicure; pedigree; pedology; pedometer; peduncle; pejoration; pejorative; peon; pessimism; petiole; pew; Piedmont; piepowder; pilot; pinniped; pioneer; platypus; podiatry; podium; polyp; pseudopod; quadruped; sesquipedalian; stapes; talipes; tetrapod; Theropoda; trapezium; trapezoid; tripod; trivet; vamp (n.1) "upper part of a shoe or boot;" velocipede.

It is the hypothetical source of/evidence for its existence is provided by: Sanskrit pad-, accusative padam "foot;" Avestan pad-; Greek pos, Attic pous, genitive podos; Latin pes, genitive pedis "foot;" Lithuanian padas "sole," pėda "footstep;" Old English fot, German Fuß, Gothic fotus "foot."

bipedal (adj.)
c. 1600, "having two feet," from biped + -al (1). Classical Latin bipedalis meant "two feet long or thick."
bippy (n.)
by 1968, "buttocks, ass," U.S. slang, the kind of thing that once sounded naughty on "Laugh-In" (and briefly was popularized by that program). As it often was used with you bet your ... it may be nonsense chosen for alliteration, but there may be some whiff of biped in it.