A portmanteau of Pegging and Dildo. More specifically a strap-on dildo that a woman uses on her man to give him the pegging of a lifetime. This is how men who do not yet know they are gay, or hiding the fact they are gay, enjoy sexual intercourse with a female
My beard Angela came over last night and I asked her to wear the pildo and jam it up my ass with a thick coating of sliquid warming sensations. It was incredible feeling her massage my prostate with a rubber peen.