a phrase used to refer to mans penis in mixed company of both males and females. the intention is that the males understand that the term refers to the male genitalia, while the females are under the assumption that the men are discussing their MP3 players.
Brad: yo Tim last night Dave hung out with this girl Ashley who he met at a club and she couldn't keep her hands off his iPod!
Tim (understanding the reference): haha that ho must have loved Dave's music. he's got some really LONG songs on there
Leah (totally oblivious): I wish i could afford a new iPod. my old iPod Mini sucks!
Brad: bitch what you talkin bout shut yo mouth!