Peng is a word that can describe a taste of a certain food or the description of a person. The word peng is a positive adjective. Such as describing a piece of chicken is peng, meaning the piece of chicken is really good! Or describing a individual, meaning the person is very attractive or good looking.
guy 1: This chicken is peng bro.
Another example
Guy 1: Ay yo look, that girl is peng!