A conglomeration of the words Pink Underwear, hopefully as worn by females in the form of floss.
"Noice pundies slut"
1. Period underwear: underwear that is old, stretched out, has shot elastic and is stained from previous periods so you save it to wear during future periods thereby not ruining the current good stuff.
Jane: Geez, I have a headache and am feeling so bloated today. I must be gonna start soon.
Jane's friend: Hope you have your pundies on.