Refers to the improbable occurrence of sexual stimulation of a person's own genitals, usually to the point of orgasm while urinating.
"Hey Mike, can I use your bathroom? I have to peeturbate."
"Ok, so I recently started masturbating. I go to the bathroom before & after I masturbate. When I first started masturbating, I got hard and then suddenly pee or something that looks like it comes out. I go to the bathroom to wash it off, and clean myself. I then try again, same thing happens. Odd thing is 3rd time I tried it I stayed hard for a while & got worried. I think it's called peeturbation."