The victim or possible victim of a pedophile.
That chick is dating a 29-year-old. She's such a pedobait.
An underage person, usually a girl, who acts very slutty, and if a pedophile saw them, they'd get raped.
See that ten year old wearing a thong? That's pedobait right there.
Quit wearing so much makeup, you look like you're pedobait.
Jimmy, quit waving your penis at strangers, you little piece of pedobait.