Short for the saying "Play it by ear"
If you are non committal about doing something, you pibe it. Can be used in any situation where the term "play it by ear" is used.
We wanted to go boating tomorrow, but the chance of rain is high, so we're going to pibe it.

Or

I'd like to go out for lunch with you, but my morning schedule is jam packed. Let's pibe it!
by ButterzTwinsMom July 13, 2021
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