Acronym for Poop in Peace, similar to RIP/ rest in piece, but related to taking a shit. Usually used when you want to take a nice, pleasant shit without any disturbances.
Guy in Next Stall: Aye yo what's up dude?
You: Hey man, lemme PIP
The state of something that you can/would like to make out with (especially the lips).
Person in Relationship: Damn baby, your lips are so soft, hot, and makeoutable.
Other Person in Relationship: Aw thanks babe!