A penis parachute is necessary when one is taking a poop usually in a public place and to avoid penis and toilet seat contact you put your penis between your stomach and shirt.
Tom: "That bathroom was horrible, but i had to go so bad."
Jane: " I hope your penis didnt touch the seat!"
Tom: "No worrries i did a penis parachute."
Jane: " I hope your penis didnt touch the seat!"
Tom: "No worrries i did a penis parachute."
by Jared Juice August 22, 2010
A rarely occuring anomaly in which the penis is protruding through the end of a condom upon completion of a sexual act involving penetration. The rubber o-ring is all that is left to fasten the tattered rubber to the penis. Often times this will be followed by an "Oh shit" and possibly a purchase of the morning after pill. Mythically caused by rough sex; some believe that parachute penis is a syndrome caused by canine molars deep within the vaginal orphace.
by "BAD" April 12, 2011