It goes without saying that any posts with this tag are almost certainly explicit.
As currently used, an ambiguous term for a pussy that is being presented in some fashion, probably involving the parting of the labial lips exposing more of the vaginal canal.
Probably better described by something like spread_pussy , presenting_pussy, or perhaps gaping_pussy, depending on the post in question.
Maybe it could be more useful if it was implied by the previously mentioned tags...