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1.
The estebi originates from the Spanish word meaning "this" and "bí" which is short or Spanish slang for the male sex organ better known as the penis.

Estebi means this cock or just cock in Spanish.

Estebi is short for 'Este bicho '.
Example:

Fernando offered his estebi to the attractive female.

Oh have you ever had an estebi sandwhich ? What's that? Estebicho!!!
by J "estebi' Arce October 05, 2011