Really nice weed, usually high grade in the form of cheese, haze or kush. Can also be used to describe anything of exceptional quality, including people, but primarily it is a weed term.
1-"That strawberry haze you had last night was the peng"
2-"Cheese on toast is peng"
3-"Your mum is peng"
2-"Cheese on toast is peng"
3-"Your mum is peng"
by dUb Samurai February 22, 2012