1. used in Slovakia and Czech Republic, means bullshit, nonsense, stupid thing to do, anything lacking in common sense
2. any small thing thing you can't remember the name of, thingummy
"Podla mna je picovina tam ist" - I think going there is a really stupid thing to do.
2. Potrebujem tu malu picovinu, nevidel si ju niekde? - I need this thingummy, have you seen it somewhere?