It is a code word for when a woman is having a menstrual cycle.
Example 1)
"Hey how are you?"
"Ah, well the devil bunnies escaped yesterday night without me know so.."
"Wow..how unexpected..."
Example 2)
"AHHH"
"What? What happened?"
"Its the devil bunnies! They came out of nowhere!"
"Wha-"
"Where's the bathroom?!!!"
When someone (commonly used between women) masturbates.
"Hey, what were you doing in the shower that took you so long?"
"Oh I was pleasuring myself with some Hot Tango..."