Adwords - Display URL & Destination URL - Tutorial
note: I am using Peerfly here, but this should be the same for every other affiliate that you might use.
1

This is your standard Peerfly offer page with your specific offer code. URL1 is the offer code/url that you will need to paste in the Destination URL field when creating an Adwords Ad. In this example, I am using the iPhone 5 Test & Keep CPA offer.
2

Once you click/load your offer URL1 in the browser, the last page on which you land after all the redirects (if any) is the Landing Page or Destination Page. NOTE: Destination Page, not Destination URL. Keep that in mind.
The Landing Page or Destination Page URL is the URL2. In this example try.valuedopinioncenter.com. Which goes in the Display URL field when creating your Adwords Ad.
3

On Adwords when creating your Ad, the Domain/URL of the Landing Page (or Destination Page) goes in the Display URL field. In this case the URL2. You need to enter everything before the last forward slash in the URL. Look at example image below.
Your Peerfly (or any other network) code/URL goes in the Destination URL field. In this case the URL1.
Don't confuse Destination Page URL with Destination URL. Destination Page URL is your Landing Page URL, the last page on which you'll land after all the redirects (again if any at all). Your Destination URL on adwords is your code/URL from the network you are with.
Last Forward Slash

In this example there is only one forward slash in the URL. In some cases there is more than one i.e. sub-directories where the offer page is hosted. So everything before the last forward slash is your Display URL.
Hope this helps, and I haven't confused you even further...ha
Special note: if your Ad is disapproved and the message specifically mentions that the offer doesn't meet Adwords "landing page guidelines", DO NOT RESUBMIT THAT OFFER AGAIN. This has nothing to do with mismatching Display/Destination URLs. The offer doesn't meet Adwords requirements, period. Skip to the next offer. If you try to be smart and play around with it, you'll get banned.
Special note 2: this tutorial is only for those who are not using their own domains and created landing pages.
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