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A whole bunch of pendejos, i.e., a whole bunch of pubic hairs or of people who are pendejos (asshole, dumbass, stupid, idiot). It can also be used abstractly meaning "stupidity" "assholeness" "dumbassness".
1. After trimming/shaving his pubic hair in the bath tub, he forgets to clean it and the wife comes: "But que pendejaje es esta?"

2. The people in this office are all pendejos. I hate having to work in/with this pendejaje.

3. I can't stand Johnny with all of his pendejaje!
by Pen Dejo August 15, 2008
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