1) When used in a plural sense, it refers to a woman's breasts.
Boobs, Tits, Titties, Jugs, Something to Look at, the good stuff.

2) However, when used in place of other words, it may refer to anything.
1) Dude man, did you see those PECHANGAS? Damn!
-Ain't that a casino?
No dawg, doesn't pechangas sound like boobs.

2) Hahaha, I would like to touch those pechangas.
by Toshiya May 9, 2008
Get the pechanga mug.