There are mainly 2 definitions:
1. The well known magazine that has a lot of beautiful naked girls.
2. A playboy is a man dedicated to chasing pieces of ass around, while sworn to a life of debauchery. He professes his love to all and commits to no one. The Playboy wines, dines and sixty-nines. Can also be called a PB
1. Im suscribed to Playboy magazine, girls are so hot in it.
2. Dam! That dude is a fucking PB! He shagged Jennifer yesterday morning, he fucked her sister in the evening, and now hes gonna get laid by Monica.