To pleasure oneself; a synonym for masturbate.
See also: wordwank/word
"Man, I peeled one off last night after watching that hot porno"
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When your balls are sweaty and the skin sticks to one thigh and you pull it off
Oh man, hey I will be right back I gotta go peel the gum off the sidewalk
When you make an irrsesponsable purchase by impulse also known as "took a hit "
I really can't afford this turbo but the big car show is in 4 months so you know i "peeled it off "