A Marine’s garrison cover. The word was used extensively in the middle 20th Century, presently out of vogue due to a serious lack of political correctness. The etymology of the word is not known. One possible explanation comes from Kate Gladstone who says, "I have heard 'pisscutter' used by (elderly male) non-Marines to describe anything which has a sharp, spiffy-looking fold or edge or crease - e.g., a particularly well-made hat-brim, or an admirably crisp crease in a pair of pants." In the novel Shogun by James Clavell the word is used to refer to a harbor that was particularly difficult to navigate.
The Marine Corps cadet looked rather spiffy in his piss cutter