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Usually an attractive woman or girl present in geeky places and conferences to attract the attention of a geek. You can find them in places where you would last expect to find so many attractive women - career fairs at linux conferences, linux meetings/conferences.

They usually have a see-through bra, dress with nipples poking out or low cut cleavage dresses aimed to attract the virgin (talented and hardworking) geek.
Tom: Man, those chicks at Linuxworld in SF were so f**king hot, i didn't know chicks who dressed like that are into geeky stuff like i am.

Matt: You idiot, those were geekbait
by LargeTrout August 23, 2007
A cute, albeit somewhat nerdy, girl who geeks are innately drawn to. Hot, but also relatable.
Joe: Did you see that hot chick with the Tardis Tattoo?
Matt: total Geekbait!
by mistamarie October 26, 2012