My name's Pip- well technically Philippa but no one has ever called me that so I and my friends introduce me as Pip and then nicknames are Pippy and Philly. Don’t really care too much for Pippa.
Pip is the name of one of the boys in Five Detectives And Their Dog. It's one of the many book series of Enid Blyton. One of my favourite writers when I was a young girl.
I have nothing against the name (although I have much against Dickens' character) but I just see this working way better for a dog, maybe, than a person.
Pip is the name of the British boy from South Park. There's an episode dedicated to him (narrated by 'some British guy') that is South Park's version of Great Expectations.
Unless you're slurring the name, then, yes, it will sound like "pimp". I think that this is a cute name. And it conjures up images of a naive, wholesome boy or young man.