Noun - A word used to describe a woman's vagina during menstruation in a sexual context.

Adjective - A derogatory term used to describe some one meaning a menstruating vagina.

Etymology -
The term is believed to be based on the idea of a pot full of bloody fish parts (chum) which are typically used when fishing for carniverous fish, such as blue fish or sharks.

Literally everyone, ever. Including the writer of this definition.

the vagina. Called chumpot because of the smell emitted enticing men to bite on the hook.