tmppipe=$(mktemp -u)
mkfifo -m 600 "$tmppipe"
Unlike regular file creation, which is prone to being hijacked by an existing file or a symbolic link, the creation of a name pipe through mkfifo or the underlying function either creates a new file in the specified place or fails. Something like : >foo is unsafe because if the attacker can predict the output of mktemp then the attacker can create the target file for himself. But mkfifo foo would fail in such a scenario.
If you need full POSIX portability, mkfifo -m 600 /tmp/myfifo is safe against hijacking but prone to a denial of service; without access to a strong random file name generator, you would need to manage retry attemps.
If you don't care for the subtle security problems around temporary files, you can follow a simple rule: create a private directory, and keep everything in there.
tmpdir=$(mktemp -d)
trap 'rm -rf "$tmpdir"' EXIT INT TERM HUP
mkfifo "$tmpdir/pipe"