Nickname for a woman. a common term for an Australia female, usually single and probably good looking. It probably originated from the high number of female immigrants from Ireland called Sheelagh.
1987 film, Hollywood Shuffle
There is the guy who walks in a room and instantly makes an impression with his charismatic ways. This is NOT that guy. He's a chump. "Bobby, this ain't the 'Poot Butt League', man...ain't no 'Poot Butts' around here. " - Hollywood Shuffle