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1.
A Place where you go to recycle your used dildos. Responsibly.
''Where can I throw my dildo?'' ''The penisdump!''
by GG_HotBabe July 13, 2012
 
2.
A saying commonly used instead of, crap! SHIT!?!
Playing pool: AH! PENIS DUMP, I just missed that shot!!!

They're out of washer fluid? PENIS DUMP!
by Sure2OutFoxU December 23, 2008