To convey a particular image. An adjective is often used between "a" and "figure." As the dog ran around while covered in a blanket, he cut a funny figure that entertained the kids.

To look attractive and well-dressed. This phrase is often used to describe men. That gentleman sure cut a fine figure in his three-piece suit.

To appear in a way or make an impression that causes oneself to be regarded unfavorably by others. You'll cut a poor figure at the job interview if you wear jeans.

To appear in a way or make an impression that causes oneself to be regarded unfavorably by others. You'll cut a sorry figure at the job interview if you wear jeans.