Two meanings, which completely contradict each other. Can be quite confusing for people who live in opposite hemispheres.
1. Something that is cool, hot or awesome.
2. Something that is stupid, dumb or emabarassing.
1. "Check out that guy's rude car! Yeahhhh!"
2a: "Dude, that t-shirt of yours is so rude!"
2b: "Shame bro, you had to be dropped off at school in your Dad's rude car!"