An arch of colors ranging from yellow to orange formed in the sky in certain circumstances, caused by the refraction and dispersion of the sun's light by urine or other pee droplets in the atmosphere.
Double peabo all the way across the sky; It's starting to look like a triple peabo; Look at that peabo.
by the nobleman May 3, 2011
Acute vicarious embarassment, such a watching a friend hit on someone in a clumsy manner. Often spawned by watching Three's Company.
After seeing Susan perform an earnest karaoke ode to Celine Dion, Micheal's peabo made him avoid eye contact with the other horrified patrons of the bar.
by buffy C (thanks to Ran E) August 1, 2003