From Greek Mythology, it is a horse that has wings made from the blood of Medusa. The symbol of high-flying imagination. Some say he stroked the ground with his foot and caused the fountain Hippocrene to flow from Mount Helicon.
A winged horse is a pegasus.
by Red Dog August 12, 2005
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A male mammal that receives gifts for showing its genitals to females.
Pegasus got beads for exhibiting his lower half.
by U of D September 15, 2005
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A Pegasus is a male unicorn. Colloquial; Synonym for hot bi guy or HBG, often derogatory, condescending, or ironic. A bisexual person, who is willing to join an existing couple, often with the presumption that this person will date and become sexually involved with both members of that couple, and not demand anything or do anything which might cause problems or inconvenience to that couple.

The term is often used to be dismissive of a couple seen to be only superficially polyamorous. Because of the demands that this type of couple places on the woman (that he be single and not take on any additional partners, and become involved with both members of the couple equally, and often "complete" their family as a sperm donor and not do anything that may threaten or disrupt the existing couple), many in the poly community call this type of man a "Pegasus", as in mythical and not likely to be found.

Jim wife wants a single, attractive man who will love and have sex equally with both and her husband, but not interfere with their marriage, move in together, help raise their kids; and not have any other partners. she's looking for something that doesn't exist.
Jims wife wants a pegasus. A male unicorn to for fill both of their sexual desires and possibly even impregnate her due to their long standing fertility issues.
by suitcase March 21, 2020
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one might call another 'pegasus' when he/she's hogging the hookah, blunt, black & mild etc.

commonly used in a circle of friends, not to be confused with flamboyantly homosexual horses.
hey pegasus, you uh, wanna pass me that hose or am i gonna have to scalp you for it?
by milkautopsy October 16, 2009
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Rule L of Pegasus is we do not speak of Pegasus
What the hell is pegasus?
Broham, Rule L
by Pegasus69 November 27, 2009
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A smoking hot babe with legs that'll make god himself sin
Jack: Dude, you seen the legs on Rachel
Kyle: yeah, she a Pegasus bruv
by Rencumminhard February 16, 2019
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The name of a woman when she is pegging her boyfriend with a strap on
'How was Jamal last night?'
'Girl, he was amazing. I was the Pegasus of his booty all night long'
by Tommyterror August 18, 2017
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