This paper proposes a 3-input arbiter-based novel physically unclonable function (PUF) design. Firstly, a 3-input priority arbiter is designed using a simple arbiter, two multiplexers (2:1), and an XOR logic gate. The priority arbiter has an equal probability of 0's and 1's at the output, which results in excellent uniformity (49.45%) while retrieving the PUF response. Secondly, a new PUF design based on priority arbiter PUF (PA-PUF) is presented. The PA-PUF design is evaluated for uniqueness, non-linearity, and uniformity against the standard tests. The proposed PA-PUF design is configurable in challenge-response pairs through an arbitrary number of feed-forward priority arbiters introduced to the design. We demonstrate, through extensive experiments, reliability of 100% after performing the error correction techniques and uniqueness of 49.63%. Finally, the design is compared with the literature to evaluate its implementation efficiency, where it is clearly found to be superior compared to the state-of-the-art.