Xipe Totec is associated with many different things to the Aztecs....
Xipe was primarily a god of renewal and regeneration; symbolized by the flaying and wearing of the skins of sacrificial victims. As a god of renewal and regeneration, Xipe Totec was a god of the earth and agriculture. Renewal and regeneration is important to agricultural cultures, who often believe that rains are sent by the gods and that the fertility of the earth is god's work.
As for Xipe's involvement in cults, it has been hypothesized that Xipe's origins relate to a cult that believed that Xipe was a lord of liberation; suggesting that the skin and flesh of the human body is what is keeping the soul hostage, making Xipe Totec a lord of bondage.
Originally posted by SLAYER69
Xipe Totec is represented wearing a flayed human skin, usually with the flayed skin of the hands falling loose from the wrists. His body is often painted yellow on one side and tan on the other, although sometimes the body of the god is painted red under the flayed skin.
He frequently had vertical stripes running down from his forehead to his chin, running across the eyes. He was sometimes depicted with a yellow shield and carrying a container filled with seeds. It is likely that sculptures of Xipe Totec were ritually dressed in the flayed skin of sacrificial victims.