1. An exclamation usually directed at a person.
2. A biscuit cut in half, with a penis in the middle
"John, you're a god damned penis biscuit!"
"Jenny likes penis biscuits for breakfast."
The art of filling your foreskin with as much crumbled up digestive/hobnob/rich tea biscuit as possible, then performing a rotationary motion allowing biscuit crumbs to fly every where.
Oh baby, release your penis biscuit all over my face.
Me and Sharon are trying to spice up our sex life so we decided to do a penis biscuit last night. Shit was wild, but my dick is really itchy.