A small, thoughtless piece of material used to fill in when a layout has come up short, (because of your own personal lack of skill and ethics) with almost any medium.
"We came up four inches short, just cut me a dick-piece so we can puke it in and call it a day."
Person A: You piece of fucking dildo dick!
Person B: What piece, though?
Person C: Presumably, a piece of fucking dildo dick.
Repeat exchange between person B and person C ad infinitum with variations.