1. A derogatory term for a very obese person. We left the bar when we realized it was seedy and filled with nothing but old gut-buckets looking for easy women.
2. A free-spirited style of jazz or blues music. The band surprised the audience by playing a few of their songs in a gut-bucket style.
3. A stringed instrument used in folk music that is made from a metal washtub . Grandpop brought out his old gut-bucket and started playing folk songs beside the fire.