A type of paper made from peni harvested from cadavers. Commonly used in books written by members of the illuminati. The most famous book ever to use penis paper was "Alex Wenz likes penis and had no swag."
Toilet paper residue on your manhood, after you wipe urin off the tip.
Kevin: "Damn, I got paper penis again. I hate when that happens!"
Jeff: "You're a dick head! Only girls wipe!"