Typically used in casual settings among friends or in relaxed environments, not in formal situations. We were just playing about at the park during lunch.
Pro Tip 2/3
Not Wasting Time
Implies a lack of productivity; often used to scold or remind someone to focus. The boss noticed you playing about instead of finishing your report.
Pro Tip 3/3
Negative Connotation
Can imply irresponsibility or not taking things seriously when the context requires it. His partner didn't like it when he played about during the meeting.