Usually used when describing a "tiny dick chink" or "small dick chink peen" a "chink peen" is a small, tiny peen. It is usually less than 1 inch in length and almost always is on a chink. All asians have chink peens but others can have them as well.
"Hey man! Get that tiny chink peen away from me!"
by Merlin&friends October 26, 2011