| Pepsi | named after the digestive enzyme pepsin and kola nuts used in the recipe 
| Others |
| PEPSI | Pan European Payment System Initiative
| Others |
| PEPSI | Pang Ena Pena Sahi I
| Others |
| PEPSI | Pause Execution on Parity Set Immediate
| Others |
| PEPSI | Pay Each Penny to Save Israel
| Others |
| PEPSI | Pay Every Pence to Save Israel
| Others |
| PEPSI | Pay Every Penny to Support Israel
| Others |
| PEPSI | Peddling Extreme Poisons So Innocently
| Others |
| PEPSI | Pepsi-Cola
| Others |
| PEPSI | PepsiCo (not an acronym)
| Others |
| PEPSI | Polynomial Expansions of Protein Structures and Interactions
| Others |
| PEPSI | Premium Extracted Preemie Sauce Initiative
| Others |
| PEPSI | Productively Endorses Possible Stomach Infection
| Others |
| PEPSI | Proton Echo Planar Spectroscopic Imaging
| Others |