The act of forcing air out of the tip of a fully erect or half erect penis. This is basically the male form of queefing.

A portmanteau of penis and boof. To understand the joys of the peef one must be familiar with the second most noble way to take a drug: the boof.

Once you have read up on the art of boofing, apply that knowledge to your penis. That my friend, is the peef.