Chipmunk is not usually treated as a compound word in standard English grammar. You can think of it as a single borrowed noun, not a built-from-two-English-words compound, even though its sound and shape can make it look that way.
The confusion makes sense because chipmunk has two clear-looking parts. Many English nouns do work that way.
Yet its history points somewhere else, and that is the key to answering if chipmunk is a compound word.

The Short Answer

Chipmunks are not usually classified as closed compound words. The word is generally treated as a single lexical item, and standard dictionaries trace it to an Ojibwa borrowing rather than to two English parts joined together, according to the Oxford English Dictionary entry for chipmunk.
Why It Is Not Usually Treated As A True English Compound
A true English compound forms by combining separate English words, like notebook or toothbrush. Chipmunk does not follow that pattern, because its origin is Native American.
Its meaning did not arise from English word-parts being fused together. The animal is a rodent in the squirrel family, but the word itself is not built like ground squirrel or video game.
Why The Word Looks Like One At First Glance
The spelling chipmunk looks like a neat two-part unit. It can feel compound-like.
English speakers also know lots of closed compounds, which makes the shape seem familiar. Still, appearance is not the same as word history.
A word can look compound-ish on the page and still come from a completely different linguistic path.
How Compound Words Work In English

Compound words form when writers join two or more words into one meaning unit. English uses open compound words, closed compound words, and hyphenated forms.
The spelling can shift over time.
Closed, Open, And Hyphenated Forms
A closed compound is written as one word, like notebook, airplane, toothbrush, football, keyboard, and backpack. Open compounds such as high school, post office, video game, washing machine, full moon, hot dog, living room, dining room, real estate, remote control, report card, school bus, and first aid stay separated.
Hyphenated forms join the parts with a dash, as in check-in, editor-in-chief, father-in-law, mother-in-law, sister-in-law, brother-in-law, full-time, part-time, long-term, long-distance, up-to-date, old-fashioned, good-looking, and able-bodied.
Quick Tests With Familiar Everyday Examples
A simple test is whether the two parts work together as one idea. A school bus is not just any bus and any school.
A snowball is not just snow plus ball in a literal sense. The same pattern shows up in words like armchair, bathroom, birthday, cupcake, daydream, doorknob, earthquake, eyebrow, firefighter, firefly, handbag, handshake, headphones, homework, lighthouse, mailbox, moonlight, newspaper, pancake, playground, rainbow, sidewalk, sunflower, sunlight, teapot, textbook, upstairs, wallpaper, waterfall, yardstick, and yearbook.
When a word behaves like one fixed unit in meaning and spelling, it feels more compound-like. Chipmunk sits outside that normal English pattern.
Where The Word Chipmunk Really Comes From

The word’s history matters more than its shape. The earliest recorded use dates to the 1830s.
The OED identifies it as a borrowing from Ojibwa, not a construction from English parts.
The Native American Language Roots Behind The Name
English borrowed chipmunk through contact with Native American languages, especially Ojibwa. The OED gives the etymon as ajidamoo.
That makes the word a borrowing with a native linguistic background, not a modern English compound. The animal itself is a small striped rodent.
Related references describe chipmunks as ground squirrels in the squirrel family. Names like Siberian chipmunk and Uinta chipmunk are later descriptive uses built on the animal name, not the original origin of the word.
Why Etymology Matters More Than Spelling Here
Etymology tells you where a word came from. Spelling only shows you how it looks now.
That distinction is important with chipmunk. The current form can mislead you into thinking it was assembled from English pieces.
Pop culture has helped keep the word familiar. Examples include Alvin and the Chipmunks and its use in animal guides.
The origin stays the same. It is a borrowed name for a small rodent, not a standard English compound word.