The Word Ratchet describes something that is dirty, unattractive and generally unclassy. It can also be used to mean "ghetto" With that being said RATCHET PUSSY usually is a Pretty Chick Who guys thirst over Only to find out her pussy isnt all that due to how many guys easly got that pussy with Small Bribes (I.E weed, drinks, cash, Jewely, sneakers) or who just fucks guys for free on the low and then get dissed after that
Mark: Yo Son I'm Tryna Fuck Angie Bad Ass Fuck Yo!
Jason: I dont Know Why nigga...Thats Ratchet Pussy.. I know Mad niggas That Fucked that Hoe!
The term used when lads are drunk at a pub looking for some hot chicks
"Hey Fred, look at that fine ratchet pussy over there"
"Damn George, you are right, so fucking good ratchet pussy"