A phrase used by non-believing friends.
Also, this is used normally after the words "porkchop sandwiches"
The little bits of marijuana you find laying around your room after you've exhausted your stash and are desperate.
After looking carefully, Steve found little bits of miracle weed in the carpet and managed to pack half a bowl with it.
Much like the Xbox 360 is known as the Sexbox 360
, the PS3 is more commonly referred to as the Penis3.
It is a much sexier, and more homo-erotic way of describing Sony's console.
Johnny: Hey there Tony, did you buy the Sexbox 360 at Best Buy today?
Tony: Nah dude fuck that, I bought myself a Penis3 and I've been playing with it all night in my room.
Used in place of a word like "bitch" or "asshole", it provides a safe alternative around professionals or people of high status.
"You see that kittenman over there drinking all the damn soda? What a loser"