To install Piecemaker place the unzipped module in the sites/all/modules directory

Next download to the Drupal piecemaker package from github.com at:

https://github.com/arcaneadam/Piecemaker-Drupal

Make sure to select the Branch version that matches the module version.
For example:

Module -> Package
-------------------
7.x-1.1 -> 7.x-1.x
-------------------
7.x-2.1 -> 7.x-2.x

This package should be unzipped into sites/*/libraries/piecemaker so that the piecemaker.swf is located at
sites/*/libraries/piecemaker/piecemaker.swf

If you do not do this piecemaker will not work and you will simply get the alternate content.

Installing with Drush

an alternative to the above method is to use drush and simply issue the following command:
drush en piecemaker -y
Drush will automatically download the library and extract it to the appropriate place.