Someone who solely invites people for the purpose of getting more presents on their Birthday. Usually, the present slut doesn't ever speak to the people they invited to their party ever again unless they're friends. Essentially it goes, invite rich people, obtain good presents, and never speak to them again.
"Ugh, Sarah is such a present slut!"
"I know right, she hasn't even talked to me since her birthday, and that was months ago!"