Derived in Yorkshire from the kid slang: easy peasy, lemon squeezy. Ie Lemon pip (seed) - pipsicale - pipsy. Currently in use with 11\12 year olds, who claim its old coinage, at least 2 years old.
(A pause of vocal silence and paper rustling, followed by the sniff of the precosious kid at the front)
Precosious kid: This test is pipsy. I'll get 100 per cent.