Derivative of the most shunned "C-word" in the English language. I'm not even going to repeat it. And if you don't know it, then you're a moron. It is used in place of this "C-word."
It is also person, usually female, who rocks really hard at everything she does and likes to yell "CUNNYY!" in the streets when she sees another cunny friend of hers.
It also may be used as an adjective to describe a real "D-bag."
a) In place of c-word: "What a cunny."
b) From one cunny to another: "Hey you cunny!!! I missed you!!! Your boobies are looking hot today."
c) adjective usage: "That fool is a straight cunny ass bitch."