The result of copulation between a man and a cursed corpse. The man's penis takes on the appearance of a hairy jalapeno.
Origin: The condition was first mentioned on the podcast "Learning to Curse with Adam & Chuck", where it is used as a recurring joke.
Person 1 Hey, bro... how do you cure a bearded pepper?
Person 2 There is no cure... that's what you get for being a necrophiliac.