penisland was another famous site from the time with this property.
Edit: It was a site that sold pens; I think the alternative pronunciation of their domain name was unintentional.
Edit 2: I think I was wrong. Snopes says they did sell pens but they chose the name intentionally: http://www.snopes.com/business/names/domains.asp. Some other such names from that link: powergenitalia.com, molestationnursery.com, and whorepresents.com.
Snopes talks about penisland.net, which is still up now and clearly a joke - a rather disappointing effort, in fact, with a few rather broad double entendres and nothing further to offer.
I was curious about the (presumably) original .com, which is now squatted, and about which there seems no historical information easily to be found.
don't know about the website, but "Pen Island" is/was a small shop on Regents Street in London (not far from Picadilly Circus tube station) that sold high end fountain pens, mechanical pencils, etc. Don't know if it's still there, but it was list time i was in the UK (2007)
Edit: It was a site that sold pens; I think the alternative pronunciation of their domain name was unintentional.
Edit 2: I think I was wrong. Snopes says they did sell pens but they chose the name intentionally: http://www.snopes.com/business/names/domains.asp. Some other such names from that link: powergenitalia.com, molestationnursery.com, and whorepresents.com.