A spin-off of the word slut. The word "slute" is used in context at work or in front of an actual "slut" to keep the dumb bitch or politically correct retards at work from bitching at HR. It can also be used dynamically to reflect a cracked out whore that you'd consider sleeping with after a line of coke and a 12 pack.
Man! That slute is ugly. Gimme a coupla' more beers and its on.
Attractive female who dresses like a mixture of a valley girl and a slut, but does not necessarilly put out. Very convenient to use in public while around an actual slut, assuming that the dumb slut cannot recognize the connection that is so obvious to the rest of us above normal retards. See yaa
Check out that slute in the red with the fuckin' cans.