MIPS is a minor character in Super Mario 64. He appears as a small yellow rabbit and can be found in the basement of Princess Peach's Castle. MIPS is very nimble and will quickly flee from Mario if he draws too close. If he is caught by Mario, MIPS relinquishes a Power Star he received earlier as a gift from Bowser; he can also be caught a second time to receive another Star.
His name is a reference to the MIPS (Microprocessor without Interlocked Pipeline Stages) computer architecture used as the basis for the Nintendo 64's central processor.