An dark acronimous used instead of breasts or tits to refer to medium-to-large caliber female human mammary glands that are good looking and pretty....
"-Hey, phuckin bstard, look at those damn bloodie Pee-hats over there!
-Pee-pee-pee-pee-hatss!!"
Nickname given to bales of marijuana thrown overboard or out of airplanes. Origin is reportedly from members of the US Coast Guard in the area of Southern Florida.
"Base we've got some square groupers floating outside of Miami harbor."