When something evokes such a strong emotional state that you pee your pants, but it is entirely acceptable because the event is so grand. IE: You laugh so hard you pee.
Ted: Dude, be prepared to laugh... check out this YouTube clip!
Ned: *watches* OMG! LOL! LMAO!!!! Dude! That was totally peeworthy, I couldn't catch my breath!
Jan: Hey Jane, you need to go see SAW 10!
Jane: Is it "scary"?
Jan: Yes, TOTALLY PEEWORTHY!