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definition by Joseph Ray  Penis bear is a very insulting term
used against old people. How ever if you know the old person,
penis bear can be an endearing term. You can insult your
grandparents or you can insult old people on the street. For
example if you see an old person walking down the street you can
say "Hey Penis Bear! shouldn't you be dead by now???" Or "Hey
penis bear you are older than dirt"!!! By saying penis bear the
elder understands that you are talking to them. However if you
know the elder you can use it as an endearing term. For example
you can say "Hey Penis Bear how you been?" or "I love you so
much my shriveled up old penis bear" rss and gcal