Since at least 1450, the word slut has been used, often pejoratively, to describe a sexually promiscuous woman. In and before the Elizabethan and Jacobean eras, terms like "strumpet" and "whore" were used to describe women deemed promiscuous, as seen for example in John Webster's 1612 play The White Devil.
Souce: The good old Wikipedia, search: Promiscuity.
Usually used when derogatorily referring to females.
In some tribes of Sierra Leone, "A woman who is a Paramount
Chief may have sexual intercourse with as many
men as she pleases."
Being slutty is common in certain
animal species; it's social acceptance varies from culture, geographical area to
time period.