Band members McCurdy, Hoffmann, and Strand had been playing together since 1971, but formed Yipes! in 1977 after the addition of Freese and Bartel. After winning a battle of the bands contest, the group submitted a demo tape to Millennium Records, which signed the group. Their debut, self-titled album was issued in 1979, and a follow-up release appeared in 1980. During this time Yipes! opened for Cheap Trick, Foreigner, Kansas, and Jefferson Starship. The band was dropped from their label in 1981 and disbanded soon after.
In 2013, the group reunited to play at the Wisconsin Area Music Industry awards, and was inducted into their Hall of Fame. In 2014, the band reunited again for a concert at Milwaukee's Summerfest. 
On May 16, 2015 Yipes! played their third show in 34 years at First Avenue in Minneapolis as part of a reunion/tribute show to the famed, but long closed Minneapolis punk bar, Jay's Longhorn.
A third, new album was released on December 17, 2018 with the original lineup, entitled "Yipes!!!".
- Pat McCurdy - vocals
- Andy Bartel - guitar
- Mike Hoffmann - guitar
- Pete Strand - bass
- Teddy Freese - drums
- Yipes! (Millennium Records, 1979) U.S. #177
- A Bit Irrational (Millennium Records, 1980)
- Yipes!!! (Yipes Records, 2018)
- Former Milwaukee favorites Yipes! reuniting for WAMI awards. Milwaukee Journal-Sentinel, April 12, 2013.
- "Reviews: B.o.B, Scotty McCreery, St. Lucia, Best Coast, Yipes!". Milwaukee Journal Sentinel. June 26, 2014.
- Joel Whitburn, The Billboard Albums. 6th edition, 2006, p. 1168.