In Korean "Poon" means "a minute" and "tang" means "whore." The combined expression "Poon Tang" refers to a woman who will sleep with you VERY quickly. Though I'm sure the French word putain has also influenced the meaning in America, I think the fact that the phrase is exactly the same as the Korean it might in fact be traced back to soldiers returning from the Korean war.
that of the poon chowferrific vartiety. a taste that can vary from poon chow heavenly aroma to day old clam chowder sopping odor groin exhaust a'la dingleberry.