Two registers: (1) literally "fragrant + gorgeous" — describing flowers or vivid finery. (2) figuratively, "erotic / racy / titillating" — used of plotlines, scenes, photographs, or florid prose touching on romance or sex. The second sense is by far more common in modern usage; use carefully — it's softer than
色情 (sèqíng, "pornographic") but definitely PG-13.
