def parser(content, objconf, skip=False, **kwargs):
    """Parses the pipe content

    Args:
        content (str): The content to tokenize
        objconf (obj): The pipe configuration (an Objectify instance)
        skip (bool): Don't parse the content

    Returns:
        Iter[dict]: The stream of items

    Examples:
        >>> from meza.fntools import Objectify
        >>> objconf = Objectify({'delimiter': '//', 'token_key': 'token'})
        >>> content = 'Once//twice//thrice//no more'
        >>> result = parser(content, objconf)
        >>> next(result) == {'token': 'Once'}
        True
    """
    if skip:
        stream = kwargs["stream"]
    else:
        splits = [s.strip() for s in content.split(objconf.delimiter) if s]
        deduped = set(splits) if objconf.dedupe else splits
        keyfunc = lambda s: s.lower()
        chunks = sorted(deduped, key=keyfunc) if objconf.sort else deduped
        stream = ({objconf.token_key: chunk} for chunk in chunks)

    return stream