An idiot, a retard, a dork, someone completely lacking in social graces or intelligence.

Alternatively, a mighty hunter of ancient times mentioned in Genesis. Quoth the Everything King James Bible, Genesis 10:

10:8 And Cush begat Nimrod: he began to be a mighty one in the earth.
10:9 He was a mighty hunter before the LORD: wherefore it is said, Even as Nimrod the mighty hunter before the LORD.
10:10 And the beginning of his kingdom was Babel, and Erech, and Accad, and Calneh, in the land of Shinar.

He's pretty rare - I've seen perhaps two others references to him. So how exactly did Nimrod the hunter turn into an insult? Just one of those things you wonder about.