The crew completed POOH and LD the 3 ½” IF drill pipe. They then prepared the hoist to RIH with 3 ½” EUE tubing by changing out the tubing elevators and then proceeded to prepare the power tongs.  The AD hoisted the first joint up from the catwalk and into the elevators utilizing the winch. The roustabout on the floor proceeded to remove the winch line and soft sling from the pipe. The AD then started hoisting the pipe with the traveling blocks. The pipe’s end was still on the V door and the pipe was about at a 75 deg angle, the pipe slipped through the tubing elevators. The pipe then travelled down the V door onto the catwalk and then fell onto the ground directly beside the catwalk.