I believe "Paree" is a slang for Paris, a slang usually spouted by posh people and old aristocrats in England.
The French do not pronounce the S in Paris, so it sounds like "Paree" the R is usually emphasised in this instance by an attempt at pronouncing it like the French....in the end, the outcome is usually a pompous retarded sound from a stiff upper lipped inbred upper class knob you just want to connect your fist to his face.