A synonym for words like whore, slut or similar. Pansexuals will fuck anyone or anything.
It is usually used by post-modern liberal queermos that think current "labels" don't fully encompass their complex brand of slutty--- I mean sexuality. So they make up their own words to sound interesting and cosmopolitan.
Person 1: Dude that chick/dude just fucked a guy, a girl, a hermaphodite, and a donkey midget! He/she must be some kind of super slut!
Person 2: No you ignorant person. That person is pansexual a fluffy nonsense word that I just made up. Pansexuals are so full and dripping with love that they can't help but get it on everyone. Better get a hepatitis test.