What is a pup coin?

Could you please elaborate on the term 'pup coin'? I'm not entirely familiar with the cryptocurrency space and would appreciate some clarity. Is it a type of digital asset that's relatively new or lesser-known compared to more established coins? What are some of the characteristics that define a pup coin, and how does it differ from other types of cryptocurrencies in the market? Additionally, are there any potential risks or benefits associated with investing in pup coins that investors should be aware of?