A clip assembly is provided including a clip having a support leg joined with a control arm, an actuator, and a displacement control element operable to engage the control arm and hold the support leg in a retracted mode. The actuator is movable relative to the clip and/or a carrier associated with the clip to disengage the displacement control element from the control arm and thereby deploy the associated support leg from the body to secure the clip to the panel. The clip can include a retention leg to retain the clip relative to the panel upon installation of the clip relative to the panel. A related method of use is provided.