Iggy Azalea’s name first started blowing up after this courageously nasty hit about cunnilingus went viral.

The music video dropped online before the producers completed editing the final version, seven weeks after the shoot took place in the Rollin 60’s Neighborhood Crips in Los Angeles, because, just like any other master mind rap artist would do (she mentions 2Pac specifically), Iggy leaked the video herself in August 2011. Long life friend Shawna Peezy (also at times known as Peezus Christ or just Peezy), intros the video with her explaining the decision, here.
The video was forced off Azalea’s Youtube channel temporarily due to it being premiered without permission from the video’s producers back then.

(The ending of the video and a few parts of the song are from a Youtube video called “Kittens Inspired by Kittens” where a little girl voices over pages from a book about, yeah, well, you guessed it. The intro also contains a dialogue between Eddie Murphy and Grace Jones from their 1992 comedy film Boomerang.)

Iggy’s uncanny and cutthroat lyrics showed the hip-hop community that she was setting herself apart from other female rap artists. This caught the attention of many record labels, after she self-released her debut project, Ignorant Art, the mixtape this song features on.

https://www.youtube.com/watch?v=A2GCga7YLCU

“Pu$$y” originated from her remix of Gucci Mane’s 2011 song “Gucci Two Times” called “Pussy Two Times”.

Iggy explained, “I really liked the song (Pussy 2x), but it was a remix thing. I wanted to make like a part two, I wanted to do it again, bigger and better, have a real video and so that’s why I decided to do that, it was kind of an ongoing experiment.”

The producers' final version of the video was released later in 2011 with additional post-production and does not include the intro of Azalea and her friend, the Boomerang dialogue in the opening scene nor the “Kittens inspired by kittens” sample. It was also later removed from their channel.

https://www.youtube.com/watch?v=RavVOAA45M4

During an interview in 2013, Iggy also revealed the video was based on the 1995 American film Friday:

“[That movie] made me do ‘Pu$$y.’ … The ice cream truck, the cereal, all that … just being on the porch, just the fact that Friday kind of happened just on a neighborhood, and I wanted to do with that video something that is interesting but nothing really happens, and you’re at the front of a house and what could go on as you pass by, and that was from Friday.”