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1.
A peon. An amalgamation of pipsqueak and little shit.
Look at that moron, he's such a pipshit.
by S. Machan September 25, 2002
 
2.
Easy, Pips, not hard, easy as fuck, retards can do it.
Belinda : hey how was your exam
Marvin : Ahh it's was pip shit.
by Bronnie February 14, 2008