The play-within-a-play part of Hamlet. Or any other play, for that matter. Can also mean TVception, when you're watching a show/movie in which you spend a small amount of time watching what the character's watching.
"The Reduced Shakespeare Company
needs to add in something about playception; Hamlet
needs more pop culture if they're going to Abridge
"In the cartoon I was watching, we spent five minutes flashbacking to the main villain's childhood cartoon! Playception at it's finest."