Traditional
carnival scam, whereby a large box is fitted with an eyeslit and a provocative come-on: "What
men REALLY LIKE!", "A Real Peach!", and so forth. Many
penny arcades will also tack on another sign "No Women or Children allowed.", or similar. Upon paying one's money, the interior lights up to show...a
shot glass and
dice, or a
wax peach. Sometimes, although not always, something more...shall we say, explicit, is shown. Which keeps 'em coming back. Or coming. Whatever.
Also used to denote the quarter-a-peek loops at old pr0n bookstores.