An expression used when something out of the ordinary happens and there is no words to describe the event. It is a variation of the word "penga" which is a spanish slang term for penis. Typically used in Chicago.
If someone sees something extremely unexpected such as a very large man in a wife beater chasing a midget, they will pause for a second and then say, pengosa.
by ThaInstantClassic487 February 17, 2009