it means "the whore that gave you birth", but the word 'parir' (gave birth) isn't polite. Usually you say 'have a baby' (tener un bebe) and not ' parir un bebe'. the word is too hard
a person treat you badly and you say: "anda a la puta que te pario". (go to the whore that gave you birth) is quite offensive, specially about women. but womwn uses the expression as well.