1. in sexual contexts.
(a) [17C+] the vagina.
(b) [early 18C; 1940s+] a sexually attractive young woman; also of young homosexual men.
(c) [20C+] (US black) a promiscuous woman, whose habits emulate the preoccupations of rabbits.
(d) [1920s+] (US) a male or female homosexual prostitute.
(e) [1920s+] a sanitary towel.
(f) [1930s+] (US) the buttocks, the anus.
2. [late 19C] (US campus) rarebit.
3. from stereotypes of the animal.
(a) [1930s+] (orig. US/Aus.) a fool, a simpleton.
(b) (Aus.) a scapegoat.
(c) [1990s+] a poor player of a sport.
(d) [2000s] (US black) a weakling.
4. [1930s+] rabbit fur, as used for making garments; thus the garments themselves.
[2000s] (S.Afr. gay) a homophobic male who beats up gay men.
[1940s+] (S.Afr.) a male homosexual.
[1920s+] (Aus.) a gullible fool; used derog. for a country person.
[1940s–50s] (US) an affectionate, passionate or sexually alluring young woman.
[1960s+] (US) a woman who frequents ski resorts to solicit rather than to ski; orig. used of any skier.
[1950s+] (US) a woman who associates with surfers.
see under carrot n.
SE in slang uses
[1990s+] an unstable woman.
[1910s] (Aus.) a cheap fur muff.
[1980s+] an environmentalist, esp. an anti-blood sport campaigner; thus bunny-hugging adj.