look up any word, like lemonparty:
 
1.
When a man's "penguin" becomes so slippery due to liquids-oil, water, semen, saliva, etc.- that females have difficulty operating upon the phallus.
"Ah man dude, I had such a Slippery Penguin last Night that that bitch slipped off like twenty times"
by Mr.Slippery April 29, 2010
 
2.
a dick that cant seem to stay in an ass
It was being a real slippery penguin and pissing me off.

You are a slippery penguin.
by alfaubaseball31 June 01, 2011
 
3.
Meeting a women with a large collection of animals, mostly used for masterbating.
I was with alex and she definately has a slippery penguin.
by mr.grundle-chode April 15, 2011