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When a man is having sexual intercourse but also very badly needs to urinate, he begins to pee a little while his cum load is shooting out. This happens to all men. If they deny this, they are a fucking liar.

Your Peenut is very messy, and often happens when you are receiving felatio. The woman is often left with a bitter taste in her mouth, but is never to discover the cause of the unwelcomed flavor.
Miles: "Dude...last night I was about to blow my snot all over this chick's mouth when all of the sudden...I felt IT coming on."

Blake: "Felt what coming on, brolavski?"

Miles: "The urge to take a piss, broncanus!"

Blake: "Dude bro...that's called a Peenut."

Miles: "Well, that Peenut filled that slootes cock cutter like a jar o' jam".

Blake: "Well done, Smiles. Next time ask if she's ready for a pearl shower."
Peenut by Pantieraid May 20, 2016
pee is stored in the nutz
"don't hit my peenutz"
peenutz by MCsoggy MCgee March 2, 2018

PeeNut Butter 

N. A mix of truffle butter and peanut butter, in which a man sticks his penis in a girl’s anus and, subsequently, vagina to then both piss and ejaculate inside her (hence PeeNut).
Dudebro 1: “Bro did you pipe Rosalind last night?”
Dudebro 2: “Yeah man, but she had some weird-ass kinks, ended up servin’ up some PeeNut Butter.”
PeeNut Butter by Rennat_easel February 11, 2019
When you pee and "nut" at the same time.

nut = orgasm
You bro, i somhow PeeNut'ed yesterday.
PeeNut by yeetus da fetus May 10, 2021
a female that uncontrollably pisses or "pees" when she has an orgasm or gets a "nut".
Man that girl pissed all over me when she had an orgasm. She is definately a peenut.
peenut by Kevin Franklin May 9, 2006
When you nut but you accidentally pee a little bit, what results is this weird yellow goop
I was getting head from my girl, and when we were finished i peenut. Ever since then she'll never give me head again.
Peenut by Aug's Cannolis July 29, 2018