1. The small seed of a fruit, such as an apple or an orange. 2. Something or someone wonderful. 3. One of the dots or symbols on a die, playing card, or domino. 4. Any of the diamond-shaped segments on the surface of a pineapple. 5. An insignia on the shoulder indicating an officer's rank. 6. A disease of birds marked by mucus in the mouth. 7. Any minor, nonspecific ailment in a person. 8. The smallest change in the exchange rate for a given currency pair. Most major currencies (except yen) are priced to the fourth decimal place, so a pip is 1/100 of one percent (.0001). verb tr.: 1. To defeat, especially by a narrow margin or at the last moment. 2. To hit with a gunshot. 3. To blackball http://wordsmith.org/words/blackball.html . 4. To peep or chirp. 5. To break through the shell of an egg when hatching. More...