I got a Sue with me

from Jay Z (Ft. Sean Paul) – What They Gonna Do Lyrics on Rap Genius

Meaning

A kind of gun. He references it in another song, All I Need, from his most well-known album, The Blueprint.

I got a little two-two I call ‘er Peggy Sue
When I’m off in the club she fit right in my shoe (wooo!)

Peggy Sue will be a convenient weapon to conceal on you based on it’s size.

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