the tiny hole at the end of the penis, resembles eye of person of japanese extraction.

Taken in the contest of the song Baby's Got Back by Sir-Mix-Alot he is referring to Florence Griffith Joyner a track athlete in the 1988 Olympics who defiantly fits all the other descriptions of what he likes in women mentioned in that song. Not some soda why on earth would you want to keep your women like a soda anyway?

The external opening of the male urethra, appearing as a slit at the end of the penis. Perceived by Europeans to resemble the eye of a Japanese man, some consider the term racist, but it clearly isn't, because Japanese men have them too.

1. Eye of a penis, small and slitty.
2. Japanese persons eye.

British slang <n> (Offensive)
The only externally visible part of the urethra on a male where semen and urine is secreted from the body.
Known as a 'Jap's eye' due to the similarity between the shape of the stereotypical Japanese eye and that the opening on the penis is much like a slit.
Although the phrase is not used in a directly racist manner, people of Far Eastern origin may take offence to the use of the term.

the tiny little hole on the end of your penis in which you pee out of

slang term for the small 'japanese eye' shaped hole at the end of the penis.