That is nothing like what I just said.
I know that I’m probably overthinking a throwaway joke, but my low-key headcanon is that what’s happening here is some kind of translator issue – Drax hearing what Peter’s saying as a sound-alike word in his own language, which is getting translated back into Peter’s language (which is god knows what sort of mix of English and whatever he grew up hearing on the Eclector) and coming out completely different than what either of them said to begin with.