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Noun; A woman of ill repute who stalks a beach patrol life guard hoping to arrange a sexual rendezvous. Buoy refers to the life saving flotation device carried by the life guard. The term mirrors similar terms used for other professions ie. Badge Bunny, Holster Sniffer (police), Hose Sniffer, Hose beater (fire fighter).
"That Buoy Bunny sure is spending a lot of time chatting up the life guard"
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