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Peter Rausch's penis. Its so small that you'll never see it. Just like you'll never see a black unicorn. all are make believe but they are almost always white. :)
Ashley: hey have you seen peters penis??!!

Me: no silly. its a black unicorn, remember?

Ashley: oh...right. my bad.
by Leo&Satan:) May 31, 2011
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A man who has it all but very hard to find. African American man, educated, great job, a house, money in the bank, attractive with no kids, ready for marriage.
I met a man last night who is of my dreams, he has everything a person could want in a man, he is the Black Unicorn.
by ThaChameleonMix December 08, 2017
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