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1.
(1) Mercury's version of the Ford Mustang (1967-69). Small sportscar.

(2) In 1970, the Cougar became a Thunderbird spin-off. Large luxury car.

(3) The last Cougar looked like a Probe spin-off, but I am uncertain. Small sportscar.
FORD: A new SPORTY Mercury Cougar would be nice!
 
2.
A top of the line car made by mercury. Sadly, the car was discontinued in 2002 for bad sales, but it's still considered a classic. The new cougars look far better than the ones in the 90s', and look better than most cars period. Definetly a head-turner. Also, this thing is FAST so be careful.
"Hey man you wanna race my honda civic?"
"Uhhh.... you mean against my mercury cougar?"
"yeah dude"
"Wait your serious right?"
"yeah"
"Pffffff dude you should be bowing down to me kissing me feet not asking me to race you punt lil' car"
"yes boss sorry"
"ah its great having a cougar"
by Andrew Mickey May 22, 2006
 
3.
A classic performance/luxury car manufactured by Ford Motor Company, under the Mercury nameplate. A sister to the Ford Thunderbird and originally designed to directly compete with the Chevrolet Corvette. One of the last comfortable American RWD V8 automobiles available, until 1999, when it was replaced by an ugly, underperforming, four and six cylinder hatchback.
That's a beautiful XR-7 Mercury Cougar, I bet you're glad you didn't buy that Chevy Corsica.
by Joshman June 01, 2006