Stands for "Partner in
Crime."
A P.I.C. is a
female-friend to a man, or male-friend to a
woman. The essential quality of a PIC or P.I.C is that there is no association or interest between the couple other than friendship.
"Hey, I have an extra
ticket to this concert. My wife can't make it and I need a P.I.C."
"I let Jake
hang out with Susan, she's his PIC. But I wouldn't let Samantha near him in a
second unless I was there."