Meaning

noun a complete failure

noun the chest of a woman

noun a sculpture of the head and shoulders of a person

originBorrowed from French buste, from Italian busto (“torso, upper body”), from Latin bustum (“funeral monument, tomb," originally "funeral pyre, place where corpses are burned”). Perhaps shortened from Latin ambustum, neuter of ambustus (“scorched”), past participle of ambūrō (“burn all over, scorch”), from ambi- (“around”) + ūrō (“to burn”).

Etymology from Wiktionary, CC BY-SA 3.0