A reference to a woman's vagina, covered in hair, usually excessively, but not necessarily. A hairy pussy, an excess of pubic hair covering a woman's cooze.
Buddy #1: 'You see the hair-hole on that chick we were doggin' earlier, bro?'
Buddy #2: 'Yap, freakin' Chewbacca, wooly mammoth, Sasquatched-out hole slut, my brother. Fuckin' nasty, man, shoulda had a shave-party first, eh?
Buddy #1: 'Yer tellin' me, dawg, think I got some toilet-paper dingleberries up in my pubes after strokin' that funky hair-hole. Ever heard of Gillette??? Jeezus!