peanut vs nipper

peanut and nipper both are nouns.

Word	Noun	Adjective	Verb	Adverb
peanut	Yes	Yes	No	No
nipper	Yes	No	No	No

As nouns, nipper is a hypernym of peanut; that is, nipper is a word with a broader meaning than peanut:

Other hypernyms of peanut include child, fry, kid, minor, nestling, shaver, small fry, tiddler, tike, tyke, youngster.

peanut (noun)	nipper (noun)
pod of the peanut vine containing usually 2 nuts or seeds; `groundnut' and `monkey nut' are British terms	a grasping structure on the limb of a crustacean or other arthropods
a young child who is small for his age	a young person of either sex
widely cultivated American plant cultivated in tropical and warm regions; showy yellow flowers on stalks that bend over to the soil so that seed pods ripen underground
underground pod of the peanut vine

peanut (adjective)	nipper (adjective)
of little importance or influence or power; of minor status