What is the meaning of Penknife?

A small pocketknife; (loosely) any pocketknife.

A small knife designed for safe and convenient storage, typically in the form of a miniature clasp-knife, or with blade retractable into the handle.

A small knife for cutting the points of quill feathers or reeds into nibs to provide or repair writing implements, early versions were commonly small sheath knives.

To cut or carve with a penknife.

Alternative form of penne knyfe

Source: wiktionary.org