A term used to describe a car that has been painted in glaring colours, and with fancy lights, accessories, over-sized spoilers and such to attract women.
Though the term is used positively, it is usually not a good thing to own a pussy wagon, as they most often are gawdy and repulsive.
The term is rarely used by anyone other than the car's owner.
see also: rice
Guy 1: Man, check out my new wheels! I gots me some gold-rimmed hub caps, 30" fins and a smooth pink neon lighting set!.It's a real pusssy wagon!
Guy 2: Dude, your truck's hideous. Scrap it. Now!