1. An item, often knitted or crafted, which is intended mainly for covering the penis when not in use.
2. A euphemism for the vagina.
3. Perj. A girlfriend of a man that is tends to smother him, often spending too much time with him.
1. My girlfriend crocheted me this awesome penis cozy for my birthday!
2. My little brother's hyperactive sex drive always finds him chasing the penis cozies.
3. Man 1: Is Dave coming to the party tonight?
Man 2: I don't know, but he better not bring his penis cozy. I wish she'd just get a friend and leave us the hell alone.
A penis cozy is a warm orifice that receives a penis.
Owner of Mouth, Vigina, Ass, etc.
Damn J-man, there are a lot of good looking penis cozys up in Juanita.