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1.
1. noun

a female's pet name for a penis
Mary asked with a giggle, "does the peenee want to come out and play?"
by panzerr October 21, 2004
 
2.
penis, male genitalia.

Often used when one is too uncomfortable to use the word "penis."
The peenee can be found in a man's pants.
by Webster New World Dictionary September 23, 2004
 
3.
What the little ones call a penis.
"Mommy tell Alex to put away his pee nee"
by Geoff March 27, 2003