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When a Mediteranean with a strong flashy accent takes a girl, or perhaps a guy, and suddenly, oops there it is, his penis.

Also used in Anger Management as an "I am a lady! Oops, no I'm not."
Guy: Yeah man, I just got a new car and...
Girl: What are you doing?!
Onlooker: Run! The Porto-Rican Oops There It Is!
by James Frost August 31, 2005