Is FLIPS a Wordle Word?

Yes. FLIPS is a valid Wordle word.

It is not on the Wordle answer list, so it is unlikely to be a daily answer.

Plurals ending in S are almost never chosen as Wordle answers.

What does FLIPS mean?

/flɪps/

A maneuver which rotates an object end over end.“The diver did a couple of flips before landing in the pool.”
A complete change of direction, decision, movement etc.
A slingshot.

2 more noun definitions

A hairstyle popular among boys in the 1960s–70s and 2000s–10s, in which the hair goes halfway down the ears, at which point it sticks out“Justin Bieber and Zac Efron are among the celebrities who wore a flip.”
The purchase of an asset (usually a house) which is then improved and sold quickly for profit.

To throw so as to turn over.“You need to flip the pancake onto the other side.”
To put into a quick revolving motion through a snap of the thumb and index finger.“If you can't decide which option to go for, flip a coin.”
To win a state (or county) won by another party in the preceding elections“Wisconsin had been Democratic for decades, but the Republicans flipped it in 2016.”

5 more verb definitions

To turn state's evidence; to agree to testify against one's co-conspirators in exchange for concessions from prosecutors.“The mafioso flipped on his superiors to get a lighter sentence.”
To induce someone to turn state's evidence; to get someone to agree to testify against their co-conspirators in exchange for concessions.“The district attorney was able to strengthen his case against the bank robber by flipping the getaway driver.”
To go berserk or crazy.“I'd flip if anyone broke my phone.”
To buy an asset (usually a house), improve it and sell it quickly for profit.
To invert a bit (binary digit), changing it from 0 to 1 or from 1 to 0.

Definition from Wiktionary, available under the CC BY-SA license.

Starter word rating: WeakIn the top 70% of all valid Wordle words for testing common letters.
Vowels: I
Unique letters: 5 of 5
Common letters: L, I

Hard-mode trap: 6 valid words fit the pattern FLI_S. If you reach it, you may need several guesses to find the last letter.

Letter ratings use how often each letter appears in Wordle answers.

Tap its tiles to the colours Wordle showed, and the Wordle Solver lists every word that still fits, with the best next guess.