When you are hooking up with a girl, and you find out she is of the malegender.
Mike: " I heard you hooked up with Cindy!"
Hans: " No dude .. she had a slutnut."
Mike: "AWWW NO DUDE!"
" - Well, I have a chest wig."
Hans: "Aw god, dude. I'm already scarred for life you fagbucket."
Derived from the root “a brother from another mother,” “slut from another nut” is another way of emphasizing the vast love you have for the homies. Sometimes they just feel like family.
Yo, you fuck with Chase?! Cause he's the slut from another nut!