From Wiktionary, the free dictionary
Blend of piss + Israel.
Pissrael
- (slang, derogatory, offensive) Israel.
- Synonyms: Israhell, Isn'treal, Shitrael
2004 November 8, John Keller, “Re: ~ I'D LIKE TO SEE THE PUSSY U.S. SOLDIERS FIGHT AN ARMY! ~”, in alt.fan.howard-stern[1] (Usenet):Time for Pissrael to give up ITS weapons of mass destruction.
2006 July 22, slip_i...@yahoo.com, “Re: Pat Buchanan: No, This Is Not 'Our War'”, in alt.conspiracy[2] (Usenet):I have as much right to hate Pissrael as you have to hate France. I have MORE RIGHT.
2006 September 9, Gary Renzetti, “Re: Gaza: The new Warsaw Ghetto”, in soc.culture.israel[3] (Usenet):Actually Pissrael should be embargoed.