Opens a pair of connected pipes like the corresponding system call. Note that if you set up a loop of piped processes, deadlock can occur unless you are very careful. In addition, note that Perl's pipes use stdio buffering, so you may need to set $| to flush your WRITEHANDLE after each command, depending on the application.
See IPC::Open2, IPC::Open3, and "Bidirectional Communication" in perlipc for examples of such things.
On systems that support a close-on-exec flag on files, the flag will be set for the newly opened file descriptors as determined by the value of $^F. See "$^F" in perlvar.