1. A chick
that is decently looking/attractive in the face, but also has qualities of a nice rack
(mostly the rack) and butt
that come from her being overweight/fat. Unfortunately she is overweight so she will have a spare tire around her waist as well as thighs that are almost as big as 155mm howitzer shells.
2. Can also be a good looking chick with the same qualities ( rack
) as the above and might not necessarily be overweight, but can be heavyset, or voluptuous.
The hourglass and pear female body shapes are typical examples of the the second definition.
Bob: Queen Latifah's hot.
Alice: She looks fat.
Bob: Yeah, but she's a good lookin' fat chick.