Green’s Dictionary of Slang

pogo stick n.

[rhy. sl. = prick n. (1)]

(Aus./US) the penis.

[US]Trimble 5000 Adult Sex Words and Phrases.
[US]B. Rodgers Queens’ Vernacular.
[Aus]B. Moore Lex. of Cadet Lang. 275: pogo stick 1. rhyming slang for prick (penis) because ‘it was made to bounce up and down’.
[UK]B. Dark Dirty Cockney Rhy. Sl. 88: I wouldn’t mind her bouncing around on my pogo.