A phrase implying that there are several methods with which one can remove the outer layer known as skin off of a Domesticated Felis Catus also known as a cat.
Winston: I skinned a cat with a knife.
Joseph: I skinned a cat with my bare hands.
Roberto: Well fellas, I guess theres more than one way to skin a cat.
Barb's back was up against the wall since all her solutions to fixing her problems were failing. However, she grit her teeth and continued to problem solve, thinking to herself, "There is more than one way to skin a cow."
A geeky way of saying that one can derive the value of π from different methods, whose approximated values could be obtained from fractions or formulas.
Just as there are many ways to skin a mathematical cat, there is more than one way to bake a pi.