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peenie pouch 

the collection of fat in the pubic region of overweight men.
Your dick wouldn't look so small if you didn't have such a big peenie pouch, you fat bastard.
peenie pouch by irishinch March 26, 2011

peenie pouch 

The area between a nice pair a tits; cleavage to be more exact.
That chick has a nice place to put a dick - a nice peenie pouch.
peenie pouch by Chucky May 13, 2005