Meaning

noun any of numerous plants of the genus Gnaphalium having flowers that can be dried without loss of form or color

noun any plant of the genus Filago having capitate clusters of small woolly flower heads

noun perennial cottony-white herb of southwestern United States

originFrom cud + weed, or perhaps an alteration of cottonweed or cut weed (referring to its application to cuts and chafings).

Etymology from Wiktionary, CC BY-SA 3.0