The term has 2 meanings.

The history of British hunt buttons can be traced back to the livery buttons of noble families from the 19th century. Each Hunt has its own distinctive button, and there may be different designs for Hunt coats and (evening) dress coats.

The Hunt button may only be worn by those who have been awarded it by the Masters of a Hunt. It is an honour to be awarded the button and is a visible recognition of service to the hunt.

Hunting now attracts a wide variety of folk, with 'new money' very prevalent as the old families' fortunes wane. The excitement and thrill of the chase has often, in recent decades, drawn rather highly sexed women into this rather close knit world, where they can seek to be on level terms with male members of the Hunt. In the mid 20th century the term 'hunt button' started to be used in hunting circles as a discreet euphemism for the word 'clitoris', and the word 'saddle' can refer to a woman's vulva. 'Quarry' originally referred to the game (i.e. fox, hare etc.) hunted by hounds but is now also used to refer to the object of a rider's lust. Other hunting terms have also gained alternative meanings.