Also refered to as a 'Winut' - this is a small peanut sized defacation that is sometimes found hanging fron the hairs surrounding the anus. Literaly from the Geodie 'Wee (small) Nut.
Can also be used in a derisory fashion to describe someone.
My arse was itching; upon exploation I found a weenut tangled in the hairs.
He is such a weenut - a complete waste of space, always hanging around and of no use to anyone.