A fun nickname fans of Gossip Girl gave the show's main character, Serena van der Woodsen, played by gorgeous young actress Blake Lively.
Why? Because on the show Serena usually gets laid every episode and usually falls in love with 5 guys at a time, therefore being considered a slut by many real people as well as characters.
The second part of the nickname is due to the fact that the actress has great looking boobs (the reason why some guys watch the show, unless you like the "story"), which are at many times showing during the show.
*Note that Blake Lively is not being called a slut, only the character she plays on that TV show is under that nickname.*
Girl : OMG, Slutterena Van Der Boobsen slept with Nate, Dan and Jenny on yesterday's episode of GG, and can you believe how much clevage she was showing?
Guy: That's why I watched it in the first place, lol.