TULIP represents the following 5 teachings that constitute the "Doctrines of Grace"
1) Total Depravity - mankind cannot save himself or offer himself salvation
2) Unconditional Election - God offers unconditional salvation
3) Limited Atonement - Christ sacrifice on the cross is limited to those who freely accept salvation.
4) Irresistible Grace - God's grace is Irresistible but requires man's cooperation
5) Perseverance of the Saints - God will preserve those who he has saved