Is this an American thing because I've never heard this reference so much as uttered in whispers in the UK (and we have some pretty strange slang terms for penis)?
I used to like it, it got on to my long list for a while, then fell off again. I'm more so into modern boys names these days but Peter does still appeal.
My biggest association is Peter Pan.
http://www.behindthename.com/pnl/117870?sort=rank&pop=ew^Top 2 = Alice and James ~~ Bottom 2 = Courage and Indiana (m)