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Quite simply it is a term that references the female vagina. It can even more appropriately be used when referencing a dog's vagina.
"her pudus is leaking"
"she's licking her pudus"- dog references

"dude, your pudus stinks"- human reference
by Daveyrockhard January 10, 2006
1) A small deer, as sensitive as it is diminuitive; capable of melting the blackest of ice-cold hearts previously thought to be bereft of any humanity or warmth
2) Mascot & cheerleader for Bob Harris
I want to hug your pudu.
by Pudulicious March 11, 2006
means the same as shit, except you can put it in a film and still get a "U" certificate (i.e. Star Wars Phantom Menace). In the ROTJ Jabba scene, it's translated as "fodder", but this doesn't explain why Sebulba sez it when he crashes his racing pod.
what a load of bantha pudu

you used to be a good smuggler, but now you're bantha pudu

everything Tony Blair says is complete pudu
by Andy April 17, 2004