Same as potz or putz, ie., the male sex organ or a very stupid and foolish person. The relationship between the organ and a person derives from the Yiddish "explanation", "Wherever you push him that's where he goes". (It's better in Yiddish.) Also used as the plural of potz/putz.
"What a petz! He's such a fool he'll do any stupid thingsomeone tells him to." And, "What petz they are".
One crazy, evil, bad-ass individual. Someone with twisted and quick intelligence, who looks down on the world without even bothering to let them know it. One scary, well thought out, elitist mofo....
n the movie "The Omen", Damien Thorne's last name would have been more realistic, had it been "Petzold".