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1.
a Finnish name for lameass in chatroom and/or IRC.
Peelo is also known to be used in "real life" to define someone as a total jerk or asshole.
<Tomatoguy> I WANT PUSSEH!!
<Tomatoguy> I WANT PUSSEH!!
<Tomatoguy> I WANT PUSSEH!!
<Daveh> Tomatoguy, stfu you peelo
by Davey DDnon. May 26, 2003
 
2.
the name given to skin peeling from the body as a result of being sunburnt badly
Damn cit thts some bad peelo u gt on ur arms!
by mushroommonty June 27, 2006
 
3.
a piece of glass tubing used for smoking crystal methamphetamines. also referred to as a "peezo". Peelo (in this context) is usually used throughout the San Francisco Bay Area.
"crack back some gurp shabs in that peelo, yo."
by peeloriffic. November 12, 2004
 
4.
its either a gun, a pipe, or third generation munitions supply from secret underground labratories in latvia
give me the peelo or i'll smoke you
by Anonymous April 23, 2003