Common misspelling of 'perineum', the part of the body between the anus and genitals, aka the pelvic floor. This term is commonly used in discussions about anatomy, yoga, tantra and Kegel exercise.
People with poor web searching skills may spell 'perineum' as 'paraneum'. Complete ignoramuses may also attribute the word solely to the female anatomy.
thin layer of skin between a womans cooch and her butthole
make me a sandwich bitch before i punch you in your paraneum