A penis that has been tied into a knot which may or may not include the scrotum. Also used when describing a person who is similarly mixed up and causing some form of annoyance.
Damn it Matthew you penis wad, this is the third time this week you messed up the money.
by Jonathan Gunz February 20, 2005
A term Justin Bieber's manager calls him
Justins Manager: come here you no good penis wad!
by joestickam December 26, 2010