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The shipname for Finnick Odair and Peeta Melark in the hunger games. There's a lot of sexual tension between them, and not enough fanfiction so GO WRITE SOME ALREADY.
Non-shipper: "Omg, did you see Catching Fire??"

Shipper: "Heck yeah I did! I loved the Peenick-scene the most..."

Non-shipper: "Euw, they don't even like each other... PEENISS FOR LIFE!"

Shipper: "Oh hell nah"
Peenick by Aphrodite Red November 28, 2013

peeance freeance 

A phrase made up by Dubya, used to refer to Iraq. From context, it apparently has a positive connotation, but is distinct in meaning from "secure". Most likely means something to the effect of "peaceful and free".
A peeance freeance secure Iraq in the midst of the Middle East will have enormous historical impact.
peeance freeance by cazort May 26, 2006

Peenicorn 

A mythological creature, with the body of a horse and horn of a penis.
The Leprechaun wanted to play leap frog with the peenicorn.
A word president George W. Bush created. Nobody can begin to fathom what it means. Only used once, with the word 'freeance' succeeding it, during a speech.
"A peeance, freeance secure Iraq in the midst of the Middle East will have enormous historical impact."
Peeance by Eliot Armstrong February 12, 2004
It's loosely close to panic but has a different case and reasoning.peenic means staying weak and dumb with a sort of panic.

It's used to give pseudo confidence to a particular person in a problem who has no chance of getting away from it
.Don't confuse it with panic

Predominantly used in North Chennai Tamil youths, India
Raju encouraged Ramu to not get peenic because his favourite actor got a red card from actors union
Peenic by THAMIZH KAAPAAN February 24, 2019
When STR's fans panic, it's called peenic.
We are STR fans a.k.a. "The peenic boys"
peenic by karuthukuppan February 24, 2019