it means everything, a joke , a person's personality (penisy), a name for an object or situation that is frowned upon by you and your crew. Mostly another version of ECT.
Friend:how ya feelin' today?
you:ah ya know same old same old.
friend: penisy?
you:penisy.
dude: hey whats that guy over there got?
You: what doesnt he have? cars money penis
you:ah ya know same old same old.
friend: penisy?
you:penisy.
dude: hey whats that guy over there got?
You: what doesnt he have? cars money penis
by cryme tyme October 10, 2011