A more polite term for a "whore" or "slut".
Could be interpreted as a compliment / not as an insult.
A cool person who's not quite a whore, yet is still perverted enough to earn a sex-related title.
Alice: "That's what she said! Giggity giggity!" *Air thrusts*
Elliot: "Oh, Alice, you're such a sexual deviant! Hahah!"