Peter Time is approximately two hours after you plan on being somewhere or doing something. It is often used to describe the internal clock of someone who is consistently late to the party/event/gathering.
My friend said we were meeting in the park at six but it's already way past that. He must be running on Peter Time.
by deadsymcgee October 04, 2010
petertime otherwise known as hiroshima, is a straight up wanksta from da moraga projects. smokes so much much seaweed he turned asian again. He was born white because he wears white man shorts and pants. shoots the basketball with his left hand and ussually misses, known best for his saying of "ooooh ,MAN!!!" PT spits the best ya heard, he da next best thang since vanila, he has the smallest dick, we call him sliver dick
by kaiser soze December 10, 2004