look up any word, like cleveland steamer:
 
1.
The reason a person is not coming to a given event. Literally, "itchy penis." Comes from the phrase "itchy vagina," which came from the phrase "his vagina hurts."
Bill's not coming out. He has an itchy peter.
Yeah, I understand. Sometimes my peter itches, too.
by abitbiz.com May 13, 2004