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1.
An alternative statement to establish that you're going HAM. This phrase is used to refer to multiple levels of going hard, and plays on the Disney character's technique of "thinking happy thoughts". Once said person has declared they are "Peter panning dat shit" they must follow through with the action. The segment of the phrase "dat shit" refers to the action and can be established in context by the said person.
"Dude I'm feeling sick, I can't go out tonight."
"Just peter pan dat shit."

"So there's this girl at my work, she's super hot.."
"Bro, you can peter pan dat shit."

"I have a final due online tomorrow by midnight.."
"Well, you better peter pan dat shit."
by Sabribri June 01, 2012