lip (n.) Look up lip at Dictionary.com
Old English lippa, from Proto-Germanic *lepjon (cognates: Old Frisian lippa, Middle Dutch lippe, Dutch lip, Old High German lefs, German Lefze, Swedish läpp, Danish læbe), from PIE *leb- "to lick; lip" (source also of Latin labium).

French lippe is from a Germanic source. Transferred sense of "edge or margin of a cup, etc." is from 1590s. Slang sense "saucy talk" is from 1821, probably from move the lip (1570s) "utter even the slightest word (against someone)." To bite (one's) lip "show vexation" is from early 14c. Stiff upper lip as a sign of courage is from 1833. Lip gloss is attested from 1939; lip balm from 1877. Related: Lips.
lip (v.) Look up lip at Dictionary.com
c.1600, "to kiss," from lip (n.). Meaning "to pronounce with the lips only" is from 1789. Related: Lipped; lipping.