Top Definition
n. Cheap-ass hooker. Obscure use of the word "slit" as vagina or ass, with penny indicating that it is so cheap you don't need much more than a penny to buy some time with it.

n. Any body orifice where a penny might fit.

v. On the present (-ing) it means buying some time from a cheap hooker.
Damn, look at that hoe, she's a penny slit.

Dat ho's got a penny slit yo; that shit's sexy as fuck.

Im'ma fuck the shit outta' that penny slit, it's so damn cheap yo.

My fucking bitch of an ex slept with half the damn neighborhood, she was such a cheap penny slittin' ho.

Im'ma go penny-slitting round the hood. Bitches love my pennies.

I pulled that penny slit... Jackpot!
by bloodedge September 19, 2014
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