Simply the most kick-ass language ever. Spoken by Elves and comes in two dialects (Quenya and Sindarin).
Awesome person: "ego, mibo orch"
Dumbass: "Why are you speaking Welsh?"
Awesome person: "It's Elvish, and it means 'begone and kiss an orc.' Bitch."
Dumbass: "You're a nerd."
Awesome person: "And proud of it."
A spelling of the word penis used by slightly less smart people who hear the word. having never seen it written down and write down what they think they hear. Synonyms include peanous, peanis, peanus, peenous, penice etc.
Jim: "I gOT wartZ on Meh pEnous"
Bill: "It's penis, get it right, idiot."