A mudbone hustler is someone who doesn't have much cash, but always seems to get by in style. This is a person who uses their wits to avoid being a "starving artist", but they aren't exactly getting rich either.
At any Phish show you'll see a pack of mudbones selling hemp necklaces trying to get enough for a ticket and some food.
The term originated from the Richard Pryor character Mudbone, who was a shoe shiner who'd been around the block a time or two.
That fool just made a bunch of 10 cent copies of his drawings and is selling them outside the show for a buck each. He lives in his car but he's at all the best shows with a drink in his hand, what a mudbone hustler!