What does p***take stand for?
The Oxford English Dictionary has this definition:
piss-take n. colloquial (chiefly British, Australian, and New Zealand) a parody, a send-up; an instance of mockery
Related to this is the earlier attested expression take the piss (out of):
colloquial (chiefly British, Australian, and New Zealand): to make fun (of), to mock, deride, satirize
(Ibid.)