Racist penis
When you're not racist but you're not sexally atracted to people of diffrent races.
I'm not racist I just wouldn't sleep with her because I've got a racist penis.
Penis Racist
Someone that only has sex or hooks up with a penis of a certain race or color.
Sheldon asked Courtney if she likes black men, she replied 'No, only white guys, I'm a penis racist'. or Sure he has a nice car, has nice teeth, makes a lot of money and listens to Gucci Mane. But I'm not banging that dude because I'm a penis racist!