Green’s Dictionary of Slang

1. a thin, pale, knobbly, veiny penis.

1999

Roger’s Profanisaurus 3 in Viz 98 Oct. 22: pensioner’s leg n. A thin, pale, knobbly, veiny penis.

2. a thin kebab.

2003

Guardian G2 29 Jan. 11: A new range of takeaway kebab – or ‘pensioner’s leg,’ as I heard one of the technical crew describe them.