This is a post all about the elusive penis Chaz Bono wants to buy.

Chaz is in the market for a phallus, he tells Rolling Stone magazine, talking for the first time publicly about his downstairs business. He says he's leaning more toward metoidioplasty, which he describes as "a procedure that uses what you already have down there ... which has grown larger from the testosterone. You end up with a smaller phallus than with the phalloplasty, but it's fully functional, it gets erect, and the sensation is all there."

The procedure will cost, he says, somewhere between $25,000-$45,000.

See ... you can put a price on one's manhood. 

Chaz Bono and his ex-fiancée Jennifer Elia were spotted separately outside the L.A. home they once shared on Wednesday ... the first time they've been photographed since going public with their break-up.

While Bono was spotted hauling his own suitcase out of the house, Jennifer looked visibly distraught upon her arrival.

Chaz and Jen were together for 12 years and got engaged seven months ago on Bono's reality show "Being Chaz."

Chaz Bono and his fiancée, Jennifer Elia, have called off their engagement and "are no longer a couple" ... a rep for Bono tells TMZ.

Bono's rep, Howard Bragman, tells TMZ, "They leave this relationship with great love, respect and affection toward one another. No further amplification will be forthcoming and they ask that you respect their privacy at this time."

Bono's proposal to Elia was seen last month on the show, "Being Chaz." (below)



The couple had been dating since 2005.

In what might be the most awkward proposal in reality TV history, Chaz Bono popped the question to girlfriend Jennifer Ella ... without actually popping the question.

In a clip from the upcoming show "Being Chaz" ... he gives her the ring, without getting down one knee, on the top of the Space Needle in Seattle. Her dry reaction was simply, "Wow, it's gorgeous. Thank you so much."

Congratulations?

Former "Dancing with the Stars" contestant Chaz Bono and "Sweating to the Oldies" guru Richard Simmons made nice outside the "Wendy Williams Show" in NYC on Tuesday.

Question is ...

Chaz Bono is pissed off at the National Enquirer for running a story that predicts he will DIE in 4 years -- claiming the whole thing's a "smear campaign" that's "blatantly false" ...  TMZ has learned.

The "story" is plastered right on the cover of the Nov. 11 issue with a headline that screams, "Chaz Bono -- ONLY 4 YEARS TO LIVE."

The article cites "expert" opinions from a guy named Dr. Patrick Wanis, who claims Chaz's weight combined with the stress and various medications associated with his gender reassignment "increase Chaz's risk of an early death." The Enquirer says Wanis predicts Chaz will likely die by 2015.

But Chaz claims the whole thing is a steaming pile of crap -- and his legal team fired off a letter to the Enquirer demanding they print a retraction and issue a public apology ASAP.

In the letter, Chaz's lawyer calls the story, "blatantly false and defamatory" -- adding, "The salacious and inflammatory headline and article were crafted for the malicious purpose of discriminating against our client's gender and sexual orientation."

"Further, the statements you attribute to Dr. Patrick Wanis and your depiction of him as a medical doctor specializing in transgender health issues are highly misleading and blatantly false."

Chaz's lawyer says if the Enquirer does not retract the story, Chaz will sue.

Chaz Bono could be the voice trying to sell you soap -- it's all part of his grand plan after getting booted from "Dancing with the Stars."

Bono's rep/manager, Howard Bragman, tells TMZ ... Chaz took no meetings during "DWTS" -- but his team will get together this week to plot out a strategy for the next chapter.

Bragman says they're looking at several options -- including acting, voice-over work, and endorsements -- and Chaz also plans to continue booking speaking engagements.

As for whether he'd be into continuing his dancing career, Bragman says Chaz is "open to all reasonable discussions."

So we might not have seen his last Tango after all ...

Chaz Bono shouldn't be bummed about being voted off "Dancing with the Stars" -- because he's got a bright future ahead of him ... in what? We have several (not necessarily good) ideas.

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Chaz Bono was eliminated from "Dancing With the Stars" tonight, and his farewell speech was one part inspiration ... and one part 'screw you' to his critics -- saying, "I wanted to show America a different kind of man."

Chaz came under fire from groups that claimed -- among other things -- he would be a bad influence on children watching 'DWTS' because he is transgender. Chaz tackled the controversy head-on after getting voted out ... saying, "If there was somebody like me on TV when I was growing up my whole life would have been different."

Chaz continued, "I dedicate everything I did to all the people out there like me -- and especially to kids and teens who are struggling."

"Dancing with the Stars" dudes David Arquette, Val Chmerkovsiy and Chaz Bono busted a move before last night's competition and showed off their bare chests.

Sometimes shirt doesn't happen.

Chaz Bono has proven to be an inspiration to the guys over at "Pawn Stars" ... at least when it comes to a Halloween costume.

TMZ has learned ... Chum Lee will transform into Chaz for one of his Halloween parties this year ... chin strap and all ... and he's totally fired up about it. 

Don't worry -- we're already working on getting the pictures.