Palaugat literally means veiny, or veins pronounced on the skin. In context, palaugat in Cebuano, a Philippine dialect, means an erect penis (that is usually bigger than the average) with veins oozing out on the penis' skin, like that of a horse's.
I don't know, Shaun's Korean, but he really is a palaugat. Yeah, he's tall, and tall people are rumored to have big cocks, but this Korean, this Shaun, aside from having a nice, long, fleshy cock, he definitely is more delicious because of his palaugat cock. I guess the sex that we had last night was one of my best ones so far.