What It Scores
HIPPY is a valid word in the tournament list this site uses. Tile values only, before any premium square: 15 in Scrabble and 17 in Words With Friends. The letters break down as H4 I1 P3 P3 Y4.
Words Made From The Letters In HIPPY
8 shorter words come out of these tiles. On a board that matters more than the long play, because a short word on a premium square often beats a long one on plain squares.
4 letter words (1)
3 letter words (5)
2 letter words (2)
Longer Words Containing HIPPY
HIPPY appears inside each of these, which is what makes it worth knowing as a hook.
Next: the Word Unscrambler for any letters at all. Full entry and definition at Merriam-Webster.