Green’s Dictionary of Slang

bud n.2

1. in senses of youth, immaturity [SE bud, a flower that is yet to be fully opened + phr. bud of promise].

(a) [late 19C] (orig. US) a young, pubescent girl.

(b) [late 19C–1920s] a debutante.

(c) [1900s–20s] a young, immature man.

(d) [1970s+] (US gay) a homosexual teenager.

2. [1930s+] (US) a nipple, a breast.

3. [1980s+] (orig. US drugs, also buds) pertaining to cannabis.

(a) (also buj) cannabis.

(b) that part of the cannabis plant that is smoked; thus a general term for marijuana.

In compounds

budman (n.)

[1980s+] (US campus) a marijuana dealer.

bud-sack (n.)

[1980s+] (US) a container for marijuana.

In phrases

budded out (adj.)

[1990s+] (US campus) intoxicated by marijuana.

red bud (n.)

[2000s] (US drugs) a variety of potent marijuana, containing red hairs from the flower buds.