A chip shot is meant to be a low trajectory shot with minimal spin. The goal is to get the ball on the green as soon as possible and have the ball roll to the hole like a putt. To hit a chip shot you want to use as little wrists and possible almost like a putt. The club head should never get above your hands.
Use a finesse grip with the left thumb down the middle of the shaft. Plan on a carry distance of one quarter of the distance. For example, a twenty yard chip with an eight iron would carry five yards. A nine iron would carry one third of the distance. An eighteen yard chip would carry six yards. A piching wedege would carry forty percent of the total distance. A sand wedge carries one half the distance. A lob wedge carries two thirds of the distance. These numbers will vary with green speed and firmness of the greens.
A flop shot is meant to be a higher trajectory shot with a longer swing and more slub head speed. The goal is to land the ball closer to the hole and due to the spin and trajectory the ball will stop closer to the original spot at which the ball landed. To hit a flop shot you now want to wealen your grip soleft thumb is down the middle of the club. lower your hands and stand farther away from the ball. Slightly open the clubface before you grip the club. Set the hands even with the ball. Open the stance the same amount you open the face. Open the face ten degrees and then open the stance ten degrees. Make a long smooth swing keeping the club moving through impact.