In slang means " female " at the beginning of the insulting, derogatory or demeaning way, but then the term was softening and became synonymous with mine, percanta or grela. The origin may be in a Gaucho, where 34 Americanism; paico " is " 34 horse; and then 34, paica " It would be a Mare. It should be noted that difficult to treat women and bad character usually is named " mares " in popular speech.
Another of the appellations of an aromatic and medicinal plant native to Mexico, known and used by the Aztecs, which wrote last year with the entry " 34 pazote;. I have seen in my land of ready where you can call it and consume it as tea. I guess that the emigrants from the beginning of the 20th century would bring it. Their regular consumption is not recommended because one of its ingredients is toxic. I think that in the Argentinian lunfardo means other things, but I leave this explanation for the fellow on the other side of the pond.