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In old English, the word "privvy" would've been used as a shorthand term to refer to toilet. For example, "the Privvy Council" of Henry VIII and the like, would've had the blessed duty of cleaning up after the guy did a shit. Now, it can also be used in slang as a teasing nickname for those who are so lucky as to attend, private education.
Person 1: You're so incompetent, you belittle freak!
Person 2: Oh shut up, Privvy Boy!
Person 1: My Father will hear about this upmost outrage!
privvy by sarcasticnarwhal October 11, 2018
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A less formal way of saying "Hello" in russian. More equatable to the english "Hey" or "Hi". Commonly said to friends or people your own age.
Zdravstvuitye would be the formal way.
Russian:

Man 1 - Privyet droog.

Man 2 - Kak dela?
English:

Man 1 - Hey friend.

Man 2 - How are you?
privyet by freshsqueeze December 27, 2009

Lord Privy Seal

Amateurs and novices in the making of documentaries can't resist illustrating every significant word in the commentary by cutting to a picture of it. The Lord Privy Seal is an antiquated title in Britain's heraldic tradition. The joke imagines a low-grade film director who illustrates it by cutting to a picture of a Lord, then a privy, and then a seal.

(from richarddawkins.net)
Crappy Documentary "I've hit rock bottom" (show a picture of a stone and a butt on the screen)

Audience, "Hey, that's another crappy Lord Privy Seal"
Lord Privy Seal by Oxyborb December 24, 2008
Hello in Russian (Привет)
Privyet tovarish
Sitting at the bar was an entire privy of assholes.
Privy by Fetching Bums August 25, 2013
Private School kids, usually the ones that go to elite private schools. Only the fag ones. Live in mansions.
Look at those privvos crossing the road thinking they're top shit.
Privvo by TrevorMcNeil August 4, 2016
Does this campground have a privy?

I've seen cleaner privies in a refugee camp!
Privy by Momenator August 4, 2014