It is more than one peace, and even two peaces. Its basically a way of saying 'what's up!!!!' Without words and also a very cool/fun way of saying peace out, but ya know, its three peaces, not just one.
Peter: (holds up 4 fingers)
Darryll: "What's up my guy!!
Peter: (holds up 4 fingers and flaunts it around at people)
Darryll: "Geta Triple peaced!!!"
A word used to describe someone or something. It can gave a good or bad connotation (like naughty Santa).
Example of a good connotation:
Steven: "Jiminey Christmas David! You sure did a great job on your clogging performance you sly little binker!!"
David: "Thanks."
Bad connotation:
Philip: "I no can berieve you kiss my mudda Brhy!"
Bryce: "I got w rizz."
Philip: " I beat you up you sucky binkaa!!"