pimp is the hottest new word out there, yo. It has now developed into a noun, verb and adjective. It is also very common in the rap and hip hop world of music.
n.- Someone who rents out prostitutes, someone with a lot of girls.
v.- To rent out a prostitute, to gain a new girlfriend
adj.- attractive, popular with women
n.- Look at John over there with all those chicks. Hes such a pimp.
v.- Look at John pimping those chicks over there.
adj.- John, you are so pimp, I wish i could get girls like you can
n.- The act of a man having anal sex with a woman until she bleeds, then wiping peanutbutter on the but before continuing the sexual act.
I gave my girlfriend a peanutbutter and jelly last night.