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The same as Pwnd and Pwnt. Origins stem from owned, ownage, ownt. The character 'o' is next to the character 'p' on the keyboard. It was formed when some anonymous original party accidentally hit the 'p' for the word "OWNED".

It has the exact same meaning as the verb to own. The two words and their derivatives can be used interchangeably.

1. When a player is severely beaten by another player or party of players, in a game.
2. An expletive about a situation where something painful, embarrassing, or bad happens to someone in real life.

The main dispute with this word is its pronunciation. It is originally believed that the 'p' is an accident and therefore not pronounced. However, several pronunciations have become accepted: p'ownst, pwynst, pinnst, ownst, etc.
Trevor got pwnst last match.
Dave pwnst the red team.
pwnst by Teeshep October 28, 2007
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Penstruation 

Penstruation: menstruation that is brought on by penile penetration, despite the subject being pre or post menstruation. Penstruation is often discovered, post-coitus, due to bloody sheets (or other stained lovemaking surfaces). Anecdotally: women who have experienced penstruation report that it is associated with passionate, vigorous (condomless) sex, a fairly well endowed partner, and voluminous deposits of sperm, which may be why neither party usually minds the bloody after-effects too much.
"So, in a case of penstruation, who is responsible for washing the sheets, the girl or the guy?"

"Oh, the guy, of course."
Penstruation by jacandy December 30, 2011
Related Words
Verb, used to describe an individual that can't help by make bad jokes (usually a PUN).
Usually these PUNs are meant to be dumb, and quite often deliberately lame. A Punster favors bad play on word jokes but is not limited to play on word jokes. Lame humor (see anti joke and dad joke) would also fit the character of a Punster.
Punster: *walks on stage and points to (electronic) speaker* "Friends I'd like to introduce our guest speaker"
Audience: *fake laugh* "Get on with the demo"
Punster: *points to mic* "And his friend Mike"
Audience: *Booing noise* "Get of the stage Punster!"
Punster: *smirk* "Wow the 'feedback' here is terrible."
Audience: *Boo* "Get out!"
Punster by G July 21, 2015
PWST - Post Workout Salad Toss. To be performed on girls only.
A chick that is so hot, you would toss her salad after she just worked out.

That chick in Sales is sooo hot! I would totally catch a PWST from her!
PWST by Company Man aka Hero November 1, 2011

Himalayan Pinstripe 

When having vaginal sex in the doggy style position, the guy inserts his index finger into her asshole, removing a globule of shit. When she turs around to ask what the fuck he thinks he is doing, he attempts to paint a line from the closest side of her face down the length of her body. Extra points if he makes it to her ankle before she presses charges.
Bro 1: Dude, you and Krista are still down for that 5fdp show Friday, right?

Bro 2: Nah. I gave her the old Himalayan Pinstripe the other day, so we are done, I am broke from posting bail, and the judge said I couldn't leave the county...

Pwnslice 

noun. a) stronger version of 'pwn' usually used in reference to 'pwning' someone you are familiar with sometimes used as a term of endearment b) informal way of 'pwning' another person.

verb. a) The act of 'pwning' someone with whom you are familiar with or related to.
(noun) Give me a break pwnslice, I killed you 50 times in that Xbox game.

(verb) Yo man, I just pwnsliced my bro in a 1v1 hoops battle.
Pwnslice by calmurtitz June 22, 2010

Pwntagonist 

Someone who pwns (owns) at least 5 times a day and always pwns (owns) in a game format, even if they never played the game.
I kicked them newbs asses five times today. Im a pwntagonist son.

Do u know why you lost man? Hes a pwntagonist, he cant be beaten.
Pwntagonist by Eric "Escalade" July 28, 2005