MIPS is a rabbit that is found in the basement of Peach's castle in Super Mario 64. He is named after the MIPS microprocessor that is found inside the Nintendo 64's architecture. He appears as a cameo in Mario Party 3, where he can be found on the Woody Woods board.
When Mario reaches the basement, MIPS runs away and once Mario catches him, he gets a Power Star. Once Mario reaches 50 Power Stars, he can catch him again for another Star. In the Nintendo DS remake, there are more rabbits modeled after MIPS that hold keys that unlock minigames.