Tiptoe and tiptoeing are one word. That means no space no hyphen between tip and toe. Perhaps because of the rhythm of the word, tiptoe seems to need a hyphen. Of the most common reasons for using a hyphen (compound adjective, unusual compound nouns, ages, etc.), tiptoe doesn't fit any of them, however.

How do you spell tippy toe?

Tiptoe (tiptoes or tippy toes) describes the human body posture and locomotion of removing the heel(s) of one or both feet from the ground.

Is Toetips a word?

Toetip, the word we would expect, exists. The OED includes it among many toe subentries, defining it as 'the extremity of a toe' and offering two 19thC examples, one material ('Machinery for manufacturing shoe-heels, and toe-tips'), and one anatomical ('His whole frame laboured to the toe-tips').