Variation of the term puntang. A gittier form of the word. It is a hybrid of puntang and the word bangorang from the popular movie Hook starring Robin Williams.
G'damn look at all the puntangorang walkin around.
I'm fuckingfeenin for some puntangorang foo.
Puntangorang I heard!!!
Poontangerang is poontang that you try to throw away, but it just keeps on coming back.
Rick: "Are you and Bethany still together?"
Steve: "You wouldn't think so. I haven't called her in like a week. I even slept with her sister, but that poontangerang keeps peepin' me up!"