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1.
PKO
Abbreviation for "penis knockout"; not unlike "TKO" in martial arts. Used if a man's sexual partner passes out right after sex, or when a man or woman is hit in the private parts.
"Man, she passed out right afterwards. It was an epic PKO."

"He PKO'ed me so hard, it hurt like hell."
af PKObodybuilder 11. december 2009
 
2.
PKO
Pussy Knockout.
A term used to acknowledge the utter defeat and mastery of a woman's vagina by its opposing penis. Similar to the "knockout" used in the beautiful sport of MMA, victory in the war-zone that is a bed (or anywhere else you choose to do the deed) can be obtained by mutual submission (aka: exhaustion) or by a PKO.

Characteristics of PKO include, but are not limited to: female's inability to take in more thrusts; massive vaginal cum; female loses consciousnesses; muscle spasms in vaginal area and upper thighs, etc...
"Wanna go home and get PKO'd, Lauren?"

"Don't ask, Carrie... after last night's PKO I will need minimum two week recovery time."
af DaResearcher 22. juli 2014