A degree of getting ripped-off past "getting taken up the ass" or "getting screwed." The person cheating the other is not only "taking them up the ass," but are doing so without the consideration of even applying lubricant. It truly doesn't get any worse.
"Man, that salesman just drywalled me on that deal."
"He screwed me over when he sold me his atari, but not throwing in the games is just drywalling me."
When a girl's panties or underwear is sticking out over her jeans. Most commonly noticed when person is bending down; also strangely common among thongs.
When a girl's panties are hanging out, showing you a glimpse of her undies.
"Hey man, check out that cottontail standing in line at the bar."
"Ma'am, I don't mean to be rude, but you have some serious cottontail back there."