Let er rip is a long used American expression meaning to go ahead at full speed, and tater chip is added as a playful rhyming extension in informal speech. The clipped version circulates on soundboards as a standalone reaction, detached from any single film or show, because the rhyme makes it easy to quote and reuse. Short voice clips like this spread through gaming edits, group chats and short form video, where a familiar saying can set up a scene in less than two seconds without needing context.