This is a combination of the words pube and bandit. It refers to someone who sloppily/hastily trims their pubes in a shared common bathroom. The Pubandit makes no attempts to clean up afterward. Upon being confronted, pubandits vehemently deny any involvement and may become belligerent and/or embarassed. In general they are a bane to a shared apartment setting.
The territory right where pubic hair starts. This area is often times visible when individuals (usually girls) are wearing uber low pants and short shirts. visible pubatory is oftentimes paired with the always attractive "plumbers butt crack".
Joe: Did you see Courtney today?
Dave: YEAH! dude..her pants were so low you could TOTALLY see pubatory!
Joe: I know! well..at least it looks like she shaved...