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Penny-ho (noun, adj. not worthy of two words): a hoe who thinks she is above the game, but in truth, she gets pimped by a penny pimp. In order to defend her dignity, she spends her day rippin on the penny pimp so that she believes she doesn't get her show ran by her man.

See also: penny pimp
Penny ho: cafu, get ur ass in the kitchen and make me something!
Cafu: right away boo.
White cocoa: man... How is cafu, the penny pimp, with regi?G money: na its coo, she a penny-ho
by G Money!!! June 25, 2009