Chipboard is just like thick sturdy cardboard, but not the corrogated kind. Think of the stuff that is on the back of a writing tablet. Chipboard is used for making books, the covers. Chipboard is different from cardbard in that when it gets wet with glue it doesn't bend or bow. I'm too cheap to use real chipboard, so I usually use cardboard. I'll use a cereal box, or the back of a writing tablet. It all gets covered anyway. I hope that helps.
I bought a package of 8.5 X 11 chipboard in the art department at HL 10 sheets for 3.59. That was the plain. They did have primary and pastel colors as well.