short for pee pee, not a penis but a vagina, word shared between friends as in code.
girl 1: " why u keep twitchin' like that?"
girl 2: "my peep be buggin'."
girl 1: "what?"
girl 2: "my peep be buggin' cuz it got beat up last night!"
girl 1: " ur peep got beat up?"
girl 2: "hell, yeah, and it was so good."
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