Best definition
a term referring to any vagina clouded with uncertainty, or possible cause of concern.

Mike: Dude that girl is way too hot to be prude.

Chris: Yeah she is definatly a wafflecunt.
wafflecunt: define #2
A cunt that has been over used and abused, causing said cunt to have a waffle appearance.
That bitch been fucked so much she has a wafflecunt.