1) (adj) Not good, lacking. "And them rhymes you were kickin were quite bootylicious" -- Snoop Doggy Dogg (Dre Day ??).
2) (n) Bottom, ass. Or getting a piece of ass.
3) (n) Biblical, as in pirates booty or treasure. Since booty is stolen treasure, it could be good or bad. Often used in the negative today.
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