If it is a gas pipe, No Do not even look at it! Don't even think of touching it, let alone painting over it! How dare you painted a gas pipe, it should be clearly marked with a warning label Gas pipe!
Seriously you have committed a serious criminal offence, you just hope H & S executive don't knock on your door early in the morning and give you a rude awakening !
Just do what you think is best, cover the ****in thing it looks real ugly!
Cover it with some tall decorative object, something that distracts your vision and so you don't notice it is there, I am sure you could use you own imagination.