The Chipit is a bizarre dog borne of cross-breeding a Chihuahua with an American Pit Bull Terrier (APBT). Although you and your kids will certainly find these dogs cute, these mixed breeds are not always easy to maintain.
Chipits are rather intelligent dogs despite the hyperactivity they may acquire from their Terrier and require a lot of patience on your part as well as seemingly endless exercise and agility play. As they will be constantly on the move, their restlessness may drive you a bit batty at times. To help them settle down, you'll want to exercise them daily and a lot. This may include taking them to the dog park, which will breed a whole new crop of problems. With Chihuahuas, their well-known arrogance toward other dogs is cute because Chihuahuas are so small; when that attitude is bred into a larger and hyperactive dog like an APBT, the potential for problems multiplies significantly.
By no means is a Chipit lazy; if yours is lethargic, get him to a vet ASAP. These hybrid dogs are sure to keep you amused and then some, and you will want to make sure you always have a decent supply of toys on hand lest the jumping and chewing start. You should also realize that the strength of the APBT coupled with the Chihuahua's eternal desire to dominate will need to be kept in check too.