My BF is Cuban and this is his nickname, Pipo. His family, mother and father, sisters and in laws, his friends all call him Pipo. He was given this name from a child. I can just see his face when I mention this to him. A clown he may be because he has a great fun personality. This is funny!!!
"Pipo" is a slang word used in place of a woman's body part or item that she may be carrying. That part or item however, is left to the imagination of the user and/or listener, as there is no exact meaning to the word.