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1.
This is an old southern term used by my grandmother. It is a disrespectful term for a white person similar to "cracker" or "honky." I believe it comes from the fact that woodpeckers have reddish hair up top like white people.
That 'ole peckawood tried to steal my land.
by Ken May 04, 2004
 
2.
Something to be used in place of the word dick, cock, or penis in a verbal argument. Bums use this term, as well as crackheads, junkies, and black people.
I ain't fixna to fake for these pecka woods, get out my business, okay!
by Wahhhn February 02, 2011