The fact is the word in most of it's meanings is considered to be vulgar and/or offensive slang by most Americans. Perhaps in some circles not so much, since our society is becoming more and more vulgar anyway.


puss·y
n. pl. puss·ies 1. Informal A cat.
2. Botany A fuzzy catkin, especially of the pussy willow.
3. a. Vulgar Slang The vulva.
b. Offensive Slang A woman, or women, viewed as a source of sexual gratification.

4. Offensive Slang A man regarded as weak, timid, or unmanly.


http://www.thefreedictionary.com/pussy