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1.
The 'palmetto bug' is actually another name for the cockroach.

But it's not the shy, brown-colored little guy that scurries under your desk.

Palmetto bugs live in the deep south, from South Carolina to Florida.

Palmetto bugs are significantly larger than their northern brethren, blacker in color, and bolder. They won't hesitate to drop on your head or run across your toes.

Also, Palmetto bugs can fly. They are also better armored than cockroaches.
I hate palmetto bugs. I saw one in my room this evening and I sprayed a third of a can of roach spray in my room. Where there is one palmetto bug nearby, there is probably a whole colony. Now I will never get to sleep.
by letrtp June 03, 2005
 
2.
a cute sounding bug that in reality is a large, armored, flying, cockroach that can cut through a screen door and fly in large packs.
Matt: Omfg, the palmetto bugs are coming!!!!!
Paul: HIDE THE CHILDREN!!!!!!!
by overall6 February 05, 2011
 
3.
"Palmetto bug" is a southern euphemism for the giant flying cockroach that inhabits the southeastern US. It is more commonly referred to as the "American cockroach" in scientific conversations.
A palmetto bug flew through the front door and into my face. I wanted to bathe in Lysol afterward.
by koalaroo May 19, 2008