The Prince Albert piercing style is named after Prince Albert of England, the husband of Queen Victoria. It is believed that the monarch had this type of piercing.
In the early 1800s, tight trousers were a popular style for men. To prevent an unsightly bulge, men would often have a ring inserted in their penis that could be attached to a hook inside their pants. This ring, called a dressing ring, would allow the men to keep their genitals tucked neatly to one side. It is believed that Queen Victoria's husband had such a piercing.
Prior to Prince Albert's era, genital piercings were not uncommon in India. Spiritual men, called fakirs, would insert rings and hooks in their genitals. They attached weights to these rings or hooks to lengthen their penis to unnatural lengths. The fakirs would charge a fee to spectators interested in gazing upon their unusually large appendages.