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A term used to describe a sports professional past his/her prime. Most commonly used in association with a washed-up baseball catcher or a previously successful golfer.
"He was such a good catcher, and now he's just an ol' rusty cup."
by Brainiac January 08, 2005
A term for a lady's private parts, more commonly used to describe lesbian activities.

See:carpet muncher
Lisa drinks from Amy's rusty cup.
by Ball Jeziorski January 06, 2005