Two words in one: Old English clyppan 'to clasp' + Old Norse klippa 'to cut' — opposite meanings that merged into one form.
A device used for holding things together or in place; also, a short extract from a film or broadcast.
Two different words merged here. The 'fastening' sense comes from Old English clyppan 'to clasp, embrace,' from Proto-Germanic *kluppijaną. The 'cut short' sense comes from Old Norse klippa 'to cut, shear.' Both converged on the same