Penis comes from the Latin "penis" which meant "penis."
It's frequently been argued in modern times that many things made by or owned by men are penis substitutions, perhaps overcompensating for a small penis. Guns, cigars, architecture and sports cars are popularly linked to penis symbolism.
In point of fact these things do not compensate for having a small penis, they merely serve as reminders to everyone that penis is out there. You may be shooting one, smoking one, living in one or driving it, but it's out there. Later, you'll have sex with it.
Writing internet comedy occasionally is used to compensate for a small penis. So we're told. By other websites.