When a woman's labias hang out or pertrude out to resemble two pieces of folded lunch meat. Some vaginas are this way naturally, though they tend to get that way from a lot of usage like with pornstars or a ho.
"Damn that bitche's pussy's been so beat up she's got lunch meat pussy."
Johnathan: “How was that piece of ass last night?”
Joey: “Bro there was so much meat, it be raining from the sky!”
Johnathan: “Damn! She got that meatpuss!”