PIP

Performance Improvement Plan. A document given to an employee within a company to set up paperwork to legally fire the employee and protect the company against potential lawsuits under the guise of improving performance. By the time this document is given, management has almost definitely decided to terminate the employee. Used as a slang to indicate someone is being/was fired.

Person 1: Where did Tom go?
Person 2: Didn't you hear? He got pipped out of here, that's why his LinkedIn profile has an end date here.
Person 1: Wow no wonder he just disappeared.

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PIP

Potentially Interested Party

Sarah: I'm having a gathering at my house this Friday. Let me know if you're coming.
Dan: I'm a PIP, I'll know for sure Thursday night

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PIP

Penile Insertion Potential
The potential of a given man to have sex with a certain girl. If the PIP is low, then sex is unlikely. If PIP is high, then the man will most likely bang her like a screen door in a hurricane.

Al: What's your PIP on that chick over there?
Bill: High. At least 8/10. I'd fuck her until my nuts fell off.

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PIP

slang for "Philip"

Look it's Pip.
Wait, no, its not Philip.

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PIP

Pretty in Pink

That girl looks so PIP.

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PIP

an AOL speak for Pee in Pants (Similar to LOL)

John: I tripped down the stairs today!
Tom: PIP!!

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PIP

A Prick In a Prius. A person who owns a hybrid and is allowed to use the HOV lane because of the hybrid status. This person will go 50 mph OR LESS, at any time of the day, because his or her vehicle can't do any faster and will block morning and evening commutes with impunity.

I'm late this morning because there was a PIP in the HOV lane who had a mile of morning traffic behind him while he drank his Starbucks and drove 50 mph.

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