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penultimatum 

a penultimate ultimatum or the act of threatening to give an ultimatum
actually he said 'watch it! don't make me give you an ultimatum!' so it was more of a penultimatum
penultimatum by trybol phears July 28, 2010

penultamour 

The last person to date someone before someone started dating his/her eventual spouse.

First coined by the writers of 'Freakanomics'.
Jenny is such a penultamour, her last three exes have already walked down the aisle!
penultamour by skc107 January 14, 2009

The Mr.Penut

The sexual act of taking your scrotum and glueing small glasses, a small cane, and a small monicle to it. Then lay your scrotum in a bowl and offer it to your partner saying "want some nuts?"
Dude!, I gave your mom The Mr.Penut lastnight
The Mr.Penut by harrypotheadmanman November 25, 2010

penultimate 

Literally means "next to last". In street speak it takes on the meaning "second to none" or simply used to describe something utterly appeasing. It is easy to get away with using this word because of it's confusion with "ultimate" by those who don't know any better.
Yiee yiee, this be da penultimate shiee here.
penultimate by Patrick January 6, 2004
(peh-noo-she-uh): 1)A condition characterized by a small, bent, scarred, or otherwise malformed penis. 2)A man who has no earthly idea of how to go about pleasing another human being sexually besides himself, and may not seem to care.
1)During their lunch, Bettina told Helga that her dish of linguini reminded her of Selby's penutia. 2)Gregor's status as the local penutia had him hard-up for dates.
penutia by four_stave_score March 7, 2004

penultimate Penn ultimate ultimate Penn pen

The next to last ultimate pen used for keeping score in ultimate frisbee; decorated with pictures of Sean Penn; purchased at the University of Pennsylvania.
Because that would be your penultimate Penn ultimate ultimate Penn pen.