Two readings with very different meanings: sào = 'embarrassed / to shame' (害臊 'feel bashful', 臊得慌 'so embarrassed'); sāo = 'rank, urine-smelling' (腥臊 'fishy and rank'). Mostly heard in northern colloquial speech.
memory
肉 (flesh) + 喿 (chirping/noisy) — the rank smell of meat going off. The 'embarrassment' sense developed metaphorically from a 'tainted/exposed' feeling.