Really? I'm seriously trying to get a feel for the word from the British point of view. Is it used anymore? Do the Brits think "tourist" when they hear someone say it?
It means goodbye. And sometimes hello. It works well if you're carrying a pocket watch and sporting a monocle.
pip-pip is a slangy salutation current in Britain from c.1907-1923, said by Partridge to be in imitation of bicycle horn noise. Nope we do not say it in England anymore unless we are making fun of the old time. We are more inclined to say "seeya later" "laters" "Seeya" "Bye" "Take it easy" Hope that has cleared things up for you, only taken 3 years!