Penis extenders use this exact same principle!, however instead of stretching the neck, the extender is used to make a longer and thicker penis.
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The original penis extender design and concept came from penile surgery, known as “traction phalloplasty”. This is the medical term for carefully calibrated and continuous pressure applied to the penis during the healing after a patient has under gone penile surgery. Penis surgery is extremely expensive, often running into thousands of dollars.