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Peguin is an exotic FLUFFY fowl that is deficient in alcohol dehydrogenase-1 found indigenous to the island of Oahu.

These birds are known to be slow, but pride themselves in upper body strength. Legend has it they can do one pull-up. It is also a known fact they are much slower than Morulas. To avoid being trampled, they often wait an extra 10 minutes as an evolutionary survival habit to avoid being trampled.

The Peguin are a sociable species, often traveling in a group of six. They are known to make a lot of noise, but produce little in terms of results.

Colloquially, someone is a Peguin if they can talk the talk but can't walk the walk.
Person 1: Dude, you spelled penguin wrong.
Person 2: No, it's a freaking bird that's indigenous to Hawaii.

Person 1: We'll burn you at the race tomorrow, Person 2
Person 2: Bring it on Peguin.

Person 1: yo, yo yo, let's do Jagerbombs.
Person 2: Let's do it, first one is on me.
Person 1: uh... hahaha, I was joking.
Person 2: Fucking Peguin.
Peguin by Cawaiian March 13, 2011
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Either a man's dick that is so small that he basically has a vagina, or a woman's clitoris that is so huge that it could be a dick.
Person one: I had sex with Suzy last night, and she fucked my ass with her pegina!
Person two: Dude, that rocks, but I had gay sex with Johnny last night and his dick was so tiny it was a pegina.
pegina by TheCrabMaster December 17, 2015
Related Words
Person 1: hey, why is there a bump in that girls pants?
Person 2: Ohhh, its because she has a peginis
Peginis by Ed Ate a Cookie January 23, 2011
When a penis grows with a vagina on the tip instead of a regular pee hole.
Wow Sam! Your pegina is hott!
pegina by heedyhutsfinger January 23, 2011
A sexual organ that resembles both the penis and vagina; similar to a tranny but only royally fucked up people can have this, example below.
Lady Gaga has a Peginus.
Peginus by Zokaeius January 24, 2010

peginism 

Spiritual enlightenment attained from inserting pegs into a Lite-Brite.
I never felt such spiritual euphoria as when completing that sailboat Lite-Brite. Thank Hasbro for Peginism!
peginism by McLuffin August 13, 2011
When a man has a very small penis, much like a large clitoris, thus looking like a cross between a penis and a vagina.
"Ewww, look at michael's penis, its so small it resembles a pegina!"
Pegina by Charlie7 July 13, 2009