piece out refers to kicking out a "hookup" or "trick" from the night before. A "hookup" or "trick" is also referred to as a piece of meat...hence piece out.
This morning I told Jenny to leave. I was like, "piece out"
by Sexysoccerguy September 17, 2009
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The act of leaving a situation or a scenario dramatically with your fingers in the shape of guns pointed in the air, or blasting away imaginary bullets at others around you.

ALTERNATELY:

your piece may refer to a glass smoking pipe.
Alright fellas, I've had enough to drink tonight. I'm going to peace out with my piece out!
by Kid Cutty October 29, 2010
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