(1) Old English "phoulcat" (foul cat). Originally a reference to the fitch, the wild ancestor of the domesticated ferret, because of their ability to emit a foul smelling spray when frightened.
(2) Later, used in North America as a reference to the skunk. Both are actually not cats, but members of the weasel family, Mustelidae.
(3) A pole riding pussy, ie, a bitch who LOVES cock, and loves to ride, in control, on top!
(4) A female stripper, known for their pole dancing.
(3) Damn! I got it on with Sandy recently, and I didn't do a God damn thing. First she sucked my cock so good I almost came, and then she sat on my pole and rode it like a pogo stick! What a polecat!