A sexually aggressive woman who's after a good lay in the sack! When there's good peen involved, man eaters never back down. She will chase your skivvies off the seams.
2.) A scandalous female, like that of a hussy or whore.
A loose, cheap trollop easily obtained for the price of nothing. I remember when I first read the phrase, "woman of ill fame" and thought, geez that's mean! In today's language that's probably the most endearing insult a ho could ever appreciate.