A 'romance' story that ends with no romance, leaving the reader frustrated. Usually it entails the main character moving between different love interests and none are chosen before the story ends. A Peter Panda is named so because of the manga Peter Panda that was such.
Always avoid a Peter Panda if looking for Romance.
"Have you read that book I gave you?"
"Yeah."
"Did you like it?"
"Nah. It was a total Peter Panda."
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