A person who relies on others to have a good time. A grundy is someone who cannot pay for their admission or finance their habits, often relying on associates or competent people to pick up there slack. They also provide little to no contribution to a social event. This usually ends up getting the Grundy in someones "pocket" which means they are their little bitch until the grundy can learn to provide for themselves. This a "Solomon" and his "Grundys"
Way back in the 60's it was a common phrase used for an erection. It was used in reference to the teacher on the Archie cartoon series, Miss Grundy. If your penis was Really hard, it was called a "Grundy" because it pulled so hard on your skin that the leaders(tendons) in your neck showed like the teacher on the Archie cartoons.
That hot chick over there in the string bikini is giving me a Grundy!!