Adjective used to describes someone of small stature or intellect. Usually used to insult someone who is small/short or is just fucking stupid. (Derived from the astronomical term Plutoid, another name for a dwarf planet).
Sam: Bro, is Haydn like 5'3"?
Alex: Dude's a plutoid
Or
Alex: Did you hear how Haydn failed the English Essay?
Sam: What a fucking plutoid.