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1.
A very small penis,as in a particle of penis.
"Man, Adam, you've got such a small penoid."
by Luh-Luh-Luh-Louis! August 31, 2006
 
2.
A penis that is tucked inside itself. The act is usually easier when the tucker has a large foreskin to penis ratio
LAD 1: "Liam put your Penoid away"
Liam: "But mate it looks like a third testicle"
LAD 1: "Fair play"
by SnakebiteWarrior December 05, 2013
 
3.
Some one who is annoying and a penis.
Oh no it's that Penoid johnny.
by steve noble November 24, 2003