The story
From potty (“go potty: to urinate or defecate”, verb) + princess (“a term of endearment for a young girl”, noun).
Etymology from Wiktionary, CC BY-SA 4.0.
Today it means: Term of endearment for a woman or sissy (male crossdresser who adopts a feminine aesthetic) who wears and uses a diaper. Full definition →
From potty (“go potty: to urinate or defecate”, verb) + princess (“a term of endearment for a young girl”, noun).
Etymology from Wiktionary, CC BY-SA 4.0.