The white flakey cheese-like material that forms in and around the anus after getting pounded by a strap-on.
Girl: Eww! What’s that cheesy stuff on your butthole?!
Guy: That’s just Pegma! keep banging my ass!
A serious illness causing pain in the ass
Person A: Hey, I‘ve contracted pegma…
Person B: What the fuck is „pegma“??
Person A: PEG MA ASS!!!
Person B: What does „peg“ mean?
Person A: Just google it at this point…