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1.
A person with an ambiguous sexual orientation; one who is attracted both to females and males. Synonym of bisexual.
"Yesterday Jeff came out of the closet to me... He said he's ambisexual, and that he can't make up his mind whether he wants to date Jonathan or Kimberly..."
by S. Barry June 24, 2009
 
2.
A person with sexually ambiguous characteristics that don't define their gender. Guys who look like girls, girls who look like guys, and even someone with a name that can be used by both sexes.
Person 1: I have to meet someone called Sam.

Person 2: Sam? Is it a guy or a chick?

Person 1: ...wow, I don't know. How ambisexual.
by vitamindee June 17, 2005