(1) A large bird with a rounded body and long tail, which spends a lot of time on the ground and is often shot for sport and food.
(2) A moron or fuckhead.
(3) Someone who acts as if wishing to deliberatly bring him/herself pain or losses of any kind.
(1) Wow, my first hunt and I got fifteen pheasants.
(2) You're a fuckin pheasant.
(3) Don't act like a pheasant or you're gonna get seriously fucked up.