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1.
An endearing term for someone you care for, especially a child or dependent. Synonym to "kid" or "little one."

From the Yiddish term Pitzeleh, which means "little".
"Mom, can I have an ice cream?" "Of course pitzi, you got an A in painting this semester!"
por mayall 11 de Janeiro de 2012
 
2.
Small, miniscule, tiny. Generally pertaining to genitalia, and specifically to male genitalia.
"Did you see that guy's penis? It was so tiny! It was a little 'pitzi'!"
por WordlessWonder 01 de Maio de 2009