1) literally: a turd
2) figuratively: a bad, mean, person, a little bit less than son of a bitch.
"Pisé un sorete!": "I stepped on a turd!"
"Qué sorete": "What a turd" (referring to someone)
"No seas sorete": "Don't be a turd"
"Sos un sorete": You're a turd
"Tu gato es un sorete": "your cat is a fucking turd"