Yet another euphemism for a penis, coined by Andrew Hussie of MS Paint Adventures. Generally used to add an element of variety to a conversation centering around the male genitalia.
1: Hey, how was your date last night?
2: Rough, my spam porpoise is aching...
or
1: blahblahblah dicks blahblahblah
2: blahblah Johnsons blahblahblah
3: Hey, what are you guys talking about?
1 & 2: Spam porpoise.
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