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2.
The smallest designation of penis size / length. Similar to the "schlort", the penito represents a laughably short size of the male anatomy.
"When she got his pants off, she laughed out loud at his small penito."
by Frank Klaune March 05, 2004
 
1.
noun. A term of endearment describing the male external genitalia. The penito is of Spanish and English origin, appearing in popular discourse in the late 2000s. The word is a combination of pene, meaning penis in Spanish, and -ito.
Kevin put his penito in Vivian's holita

She grabbed him by his penito and walked him around the house.
by Jiggadubz, Tyrone January 01, 2009