To dive, plunge headfirst. The definition reflects the "diving" motion of the skyward fictional Peter Pan character as described within various text and film.
The man just jumped and performed a Peter Pan into the lake.
The act of plowing a girl doggy style in a coach bus bathroom. While fucking her, dunk her head into the toilet and continue to flush until you cum inside her.
Guy 1: "Bro, you know that Florida trip I went on?"