15 cent penis is when someone txts you or you txt some the word penis and you get charged fifteen cents on your cell phone bill
Txter1: "hey dude lets go for a drive and grab a beer and hopefully catch the game."
Txter1: "i hear that chick will be bartending"
Txter1: "fuck man quit sending me 15 cent penis. i dont have a cell plan u just cost me 45 cents"