Below is the official University of Akron description and history of "Zips" taken from gozips.com . However we all know what it means to Zip. Zip means FAST. There is nothing faster than to Zip.

Origin of the "Zips" nickname

One of the unique nicknames in all of intercollegiate athletics belongs to The
University of Akron.

Originally “Zippers,” athletic director Kenneth “Red” Cochrane officially
shortened the nickname to the “Zips” in 1950. Twenty-five years earlier a
campus-wide contest had been conducted to choose a nickname for the
University’s athletic teams.

Suggestions submitted by students, faculty, and alumni included Golden Blue
Devils, Tip Toppers, Rubbernecks, Hillbillies, Kangaroos, and Cheveliers.
The winner, freshman Margaret Hamlin, received a prize of $10 for
“Zippers” - a $6 pair of rubber overshoes and a brand name of the BF
Goodrich Company.

Origin of Mascot "Zippy"

"Zippy" the kangaroo was officially
declared The University of Akron's mascot
on May 1, 1953. Chair of a committee to
suggest a mascot, All-American Zip diver
Bob Savoy recommended the kangaroo
and it was approved by the student
council.

At first much resentment and apathy
surrounded the decision, which was made
without the benefit of a campuswide vote.
Defenders of the kangaroo countered with,
"it is an animal that is fast, agile and
powerful with undying determination - all
the necessary qualities of an athlete."

Pete Demming appeared as the first
"Zippy" kangaroo at the inaugural
Acme-Zip football game in 1954.

Now fully accepted and an integral part of UA's athletics program, "Zippy"
is revered by alumni and loved by children.