Origin?

I got one of these coins in high school from a friend. Ever since then I have wonder where it came from. If anyone has any information about this coin or where I may be able to find out more I would love to hear it.

There are several varieties of this type of token. Unfortunately, their origin is a mystery as well as what each one was actually used for. My guess is peep shows in most cases. Keep shoving the tokens in and the show continues. 

The use of them is to win a coin toss no matter what. It's a joke item with a raunchy design.