Touch my penis
Go on, touch it. It won't bite.
"i'll let her touch my penis"
not necessarily meaning as it looks, but just referring to a girl as "hot" or "cute"; a girl you want to ask out.
David: yo, do you think that girl over there is hot?
Josh: she's alright, "I'll let her touch my penis"
Josh: she's alright, "I'll let her touch my penis"