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1.
Threepenny Bit are a traditional folk band based in Southampton. They are famous for having a drum kit made out of bits and pieces, and busking in the streets of Hampshire on a daily basis.
Did you see that band on the street in the rain today busking? That be Threepenny Bit.
von nichols31290 3. November 2011
 
2.
Very old rhyming slang for tits - has been used since the 18th Century in the UK.
"Look at the threepenny bits on that chick - they're popping out, man"

"I shot my wad all over her threepennys..."
von Real cool trader 4. April 2008
 
3.
Cockney rhyming slang for "shit"
"I ate bad food and got a terrible case of the threepenny bits"
von callandanswer 24. Dezember 2007