A few similar definitions:
1. Where “slut” is a term used for the common trashy promiscuous girl, “sloot” is used for a high-caliber girl finally getting her groove on.
2. When a normally non promiscuous girl is promiscuous in a mischievous, cheeky way.
3. Affectionately used between girlfriends to encourage a friend's recent promiscuous behavior.
4. It's a salute to a friend....a girl's high-five.
Can’t believe you went to the party with Brad and ended up going home with Greg! You’re such a little sloot!
So you finally got your groove on! Good job….you little, sloot, you!