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1) To lose intensity or dwindle in strength.
2) An exposed penis (peter).
Matt: "I bet I can streak through downtown with my peter out for two hours without getting arrested."
Frank: "I doubt it. After running for a half hour or so, you'll probably peter out and then the cops will catch you."
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The act of dropping out of a plan or leaving a party.
James: "Sorry guys, I have to head home."
Bob: "Don't peter out on us James!"
James: "Sorry man."
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Declined slowly to almost nothing. American slang.
To me the first note of warning came from an American gentleman, who told me that the same thing had been a great "boom" in the States, but that it had "petered out" and was not now believed except in very unsophisticated country places.
The "Georgia Magnet": A Statce to Mr. H. W. Schneider at Barrow. The Manchester Guardian. November 23, 1891. Page 8. Viewed in ProQuest Historical Newspapers.
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spent, as when you've cum too many times, you have nothing left in you.
Damn, I'm petered out and am going to sleep now.
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adj. Describes the process by which one's inside joke - often relating to an obscure movie quote, song lyric, or something of that nature - is subsequently beaten to death on an episode of "Family Guy," thus rendering any further use of the reference banal and annoying.
From the root "peter," refering to the show's main character.
Joe: "Somebody went under a dock, and there they saw- "
Kevin: Dude, shut up. That's such an old "Family Guy."
Joe (to self): Damn, petered out again...
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Impotence; when even boner pills won't help.
Dagnabbit, time to put peter out to pasture. Lord take me now.
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The point at which after performing a penis will no longer support an erection
Honey, that was some good lovin, but I'm petered out.