When pronounced with the stress on the first syllable, it’s a noun meaning ‘hair clip’ or ‘clothespin’ and still occasionally ‘tweezers.’

pang-ipit ng damit
(to use when hanging up laundry to air-dry)

Sa Tate puro plastik ang pang-ipit ng damit. Sa Pilipinas, may gawa sa kahoy pa rin. In the States, clothespins are all plastic. In the Philippines there are still some made from wood.

pang-ipit sa buhok
clip for the hair

Mahilig ako sa mga ipit.
I like hairclips.

panipit / sipit

Pronounced with a strong, curt accent on the second syllable, and even sometimes with the same pronunciation as above, the word ipit means ‘to be squeezed.’

Naipit ang paa ko sa pinto.
My foot got caught in the door.

Naipit ang kamay ko sa bintana.
My hand got caught in the window.

Naipit ako sa gitna ng dalawang lalaki.
I got squeezed between two men.
(For example, as when sitting in a jeepney.)

Iniipit ng gobyerno ang mga negosyante.
The government is putting the squeeze on business people.