A Putter is a substance used to ward off the infamous "land trolls". It is comprised of butter and pepper. To make this substance you would put lots of pepper in some butter and mix it well; then grab a chunk and roll it into a ball. Then freeze it until it is rock hard. Then if a land troll comes along all you have to do is throw it at them and they will flee endlessly.
1. I had an encounter with a land troll, good thing I through some putter at it.