paean, peon

Paean or paean, also spelled pæan, means a hymn of praise or thanksgiving--
He is writing a paean in praise of Apollo.
They perform a paean of praise when the weather turns warm.

Peon or peon ( rhymes with paean )  means a serf or bonded laborer--
The peon waited for the day when he would work his own land.
He had four more years to serve as a peon. 

Now that you know that, you can say--
"The peon was so grateful for his release from bondage that he composed a paean of thanksgiving ."

Note--"pion" ( pie on ) is a physics term, derived from the letter pi or π--
Pion stands for "pi meson", a subatomic particle. 
Not to be confused with "pie on " ( two words ), meaning a pastry stuffed with fruit or filling, placed over or set on something--
I left the pie on the kitchen counter.

Note # 2--"pion" ( rhymes with paean ) is also French  for a chess pawn--
He took my pion with his fou.

Note # 3-"paeon" ( also pæon,  rhymes with paean ) is a measure of the meter or rhythm of words--
A paeon has four syllables to the foot, with one syllable stressed or emphasized.