Lake = short sexy hottie
Lake : Matt stop talking smack bout me.
Matt : What are you going to do half pint??
Lake : Do you really want to go??? PIFFF you are to scared!
Real piff is not common at all; however, claiming pot is "Piff" means that it is above average or really good marijuana. Piff can also be used as an expression for when something is really extravagent.
2- Nah, what is it?
1- Its that piff!