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2.
A Penicorn is a magnifficant creature with a penis as a horn. They are the very pets of the ancient gods! Some say that they are waiting for a soul as pure as a mountain river, to show their almighty presence to.
It is also said that even the slightest glance of such a creature blesses the beholder with eternal beauty.
Scientists from all over the world are trying to gather crucial evidence of it's existance to make an Eternal-Beauty-Potion and make millions. Naturally, ebaum is trying to find one to watermark it and put it on his site.
Omg! The animal that put out the city fire was a Penicorn!
- Duh!
by -Rabies- June 20, 2006
 
1.
A unicorn with a penis on its forehead instead of a horn. It can prod and poke with the same effectiveness as the unicorn. Ovbious to which gender this creature happens to be.
The penicorn frolicked gaily among the flowers...unbeknowest that poachers come in search of the rare sack it carried proudly on its forehead.
by skank ass weasel October 25, 2003
 
3.
Unicorn that instead of a horn at the top of its head it is a penis.
"Yo' dude, you see that penicorns over thurr."

Charlie the penicorn. (;
Candy Mountain Charlieeeeeeee.
by Jejamtrissiecishaa. January 12, 2009
 
4.
A fusion of the words penis and unicorn. Basically, this is a synonym for dickhead. If you see where a unicorn's horn is and picture a "dickhead", you will get it.
My ex is being a real asshole. He is such a penicorn!
by Stephanie Ling April 11, 2006
 
5.
The magical horse with a penis on its head instead of a horn, distant relative of the unicorn.
Guy: I saw a penicorn today. I rubbed its horn three time sbut it didn't give me any magical wishes, but it did give me some magical goo. I used it as a substitute for mayonnaise I made for my parents.
by Ready-Liver July 05, 2009