the best and most effective way is to have ur manhood waxed. it is a little painful but quick, im a beautician.... havent yet seen anyone run screaming from the room.... ha are you brave enough?
I can honestly say I've never seen hair on an actual penis arn't they usually smooth!!! Now if your talking about ball bags then get them waxed (back, sack and crack 3 in one!!) Or if you like to inflict pain on yourself tweezers!! :o(