Peter Panda was destroyed in a fire during the events of "1%" by Polly Prissypants, who in reality was Cartman's subconscious projecting itself on to Polly Prissypants. This was brought on by pressure from peers and his mother to grow out of his stuffed animals. The fire not only destroyed Peter Panda, but damaged Eric's room and other sections of his house. He then took the surviving stuffed animals to Token Black's house to seek refuge as he was not consciously aware that he himself was destroying his own toys. Peter was last seen being taken by the fireman as evidence, it isn't known if he got a back and put it in a coffin like Clyde Frog.
Peter Panda is a toy panda bear with the usual features of a panda such as white body and black accents. He also has pink ears.