I've been having dreams where i have a penis?!?

You are soon about to get laid

It is a dream indicating either you are going into your 3 day ovulation, or you are pregnant. Write down the dates each month of when you have the dreams and you will see there is a different one for each cycle of your body including one that tells you when you will start your period(dream with lots of people around you), when you are ending ovulation, (usually a dream about nature), and when you are pregnant. If you have a twitch in your belly right under your belly button then you may be pregnant(not sure if this applies to you, or if you have ever even had sex) or you could simply be in ovulation.

Dreams signifying this usually vary greatly by person,but it is definitely a dream indicating where you are in your cycle. When pregnant with both of my children, their spirits showed themselves to me in my dreams just like you described, but I also had dreams with failed fertilization indicating simple ovulation, where the dream showed me as someone else totally, and when I looked in the mirror, I was not the same person I knew myself to be, and in fact, a different gender. I have no tendency towards other genders at all, very female, very girly, but strong will, which can sometimes play itself out in this way and confuse you.

The fact that it was always erect is a clear indication that it has nothing to do with gender issues. Your mind is specifically calling out the sexual property of the penis, and your further qualification of masturbation in your dreams reinforces this.

Basically, you're horny in your sleep.

Penis

To see a penis in your dream, signifies sexual energy, power, aggression, and fertility. To see an exceptionally large penis, suggests doubts and anxieties about your sexual drive and libido.

Maybe you're a Tomboy?

..whhooo/I just need to read this one..

Can't help ya' lady--I'd suggest...you look at your environment..

Clean the house 'til ya' drop..and see how that goes.