1) Green teletubby 2) One of the teletubbies 3) The green teletubby 
• (a.) Deep-sea; as, a dipsey line; a dipsy lead. • (n.) A deep-sea lead. • (n.) A sinker attached to a fishing line; also, a line having several branches, each with such a sinker, used in deep-sea fishing.
Dipsy is American slang for an alcoholic or drunkard.