used to discribe a once good looking person thats become unattractive, or that someone's appearance has deteriorated. (misusing the word cotton in place of caught; impling that age, drugs, hard living, partying, etc. have 'caught up' with a person's looks
Amy used to be so hot but after having two kids and sitting on her ass all day, now she just cotton
word used to describe a small piece of cotton used to draw-up your drug of choice into a syringe. this piece of cotton can be from a cigarette filter(already smoked, or not if you're lucky), from a Q-tip, or it can be pre-made and distributed at a needle exhange.