Peru.

That’s not Peru. Said of something utterly worthless. A French expression, founded on the notion that Peru is the El Dorado of the world.

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Entry taken from Dictionary of Phrase and Fable, edited by the Rev. E. Cobham Brewer, LL.D. and revised in 1895.

Pers
Persecutions (The ten great)
Persepolis
Perseus
Persevere
Persian Alexander (The)
Persian Bucephalos (The)
Person (Latin, persona, a mask; personwtus, one who wears a mask, an actor)
Persona Grata (Latin)
Perth
Peru
Peruvian Bark
Peruke or Periwig
Pescecola
Pessimist
Petard
Petaud
Peter
Peter Botte Mountain
Peter Parley
Peter Peebles

See Also:

Peru