This word can be used as a way to express excitement,
agreement,
horror, or as an adjective (both positive and negative), an
adverb, and even a noun (as a replacement for a swearword.)
"Hey-- guess what! I just got my Linkin Park CD signed by Linkin Park themselves!"
"
EEP!!!!"
"That is SO stupid."
"
Eep."
"How do you know what the monster looks like?"
"Because it's standing right behind you!"
"Eep..."
"How's you're life?"
"Pretty damn
eepy."
"
Everything's going eepily."
"That little eepin'
eep!"
(Note: while 'eep' can be used this way, most people prefer not to, and instead use the actual cursewords themselves.)