Butters- means looks good.
Example: That shirt is Butters.
I don't know if you're keeping up with the cyber slang but "buttas" is now english slang for ugly and there is even a song about it.
I think this 'butters/buttas' refers more to something being 'unacceptable'. Butterface is also slang for a female with a hot body but an ugly face i.e. everything is great "but her face". Hence "butterface" and quite probably the shortened 'butters'.
Butta is like smooth, like you hit a nice Jumper. --"damn hommie that was butta"
Butta is used instead of smooth. That car is butta or his jump shot is butta.
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