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Peder is a really super awesome variation of the name Peter. But instead it has a 'd' in place of the 't'.
Paco: Hey, are you Peter?

Peder: No man I'm Peder.

Paco: Shiiiitttt homie.
by yeweDEWEY June 05, 2006
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Short for PEDERast. Used as an insult, and not literally.
Don't listen to that peder, dude!
by not a peder March 29, 2005
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A tiny flaccid penis that belongs to a gay guy.
Dat fag wanna stick dat peder in my sniffer! Keep him AWAAAAAAAAAY!
by Deadducky567 November 04, 2017
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