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penishanger 

n. a person, place, or thing that peni (plural form of penis) hang on.
n. a person who hangs things on their penis for public display.
Yes, dick in a box participants are certified penishangers.
A man took a ribbon from a girls room, wore her tiny pink bathrobe, and wrapped his penis in the ribbon. He proceeded to walk into the girl's friend's room and said, "Merry Christmas!" The friend responded, "You are such a penishanger!"
penishanger by luke7777777 December 8, 2010