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1.
It stands for Post Ejaculatory Urninary Malfunction. After a male ejaculate and then tries to urniate there are always multiple streams and strange angles.
Sorry, honey. I pissed on the blinds again. Damn peum.
by Tad Allen September 13, 2004
 
2.
Acronym for Post Ejaculatory Urinary Misfire. After ejaculating (either through masturbation or copulation), if all of the semen is not expelled, some may remain in the urethra, developing a slightly more solid phase.

As the male attempts to urinate later (often the next morning), the urine may spray in multiple directions as a result of the blockage.
Man, I had to clean up my bathroom for 30 minutes this morning because I had a killer PEUM.
by Eli Kennedy July 18, 2006