The concept of butch/femme or masc/femme refers to how one presents themselves with regard to male/female gender norms. Things like makeup, heels, and pink are femme, while very short haircuts and sturdy work clothes are butch or masc.
Panel 1: That person is butch.
Panel 3: I will attempt to woo them.
Panel 4: Are you a butch person interested in sexual and/or romantic relations with another butch person?
Butch: Basically masc presenting person. Commonly (or at least where I'm at) used in relation more masculine fem presenting people. (But I think I may outdated, idk I'm old)
Rizz them up: (Bear with me, I'm still old.) Basically charisma (the rizz part), in this instance it's using one's chariama to interact with another in an attempt to swoon them. (I think)
Because in the original comic the woman in the middle explains to the girl that this is simply an ugly man and not a beloved cartoon character. The text has been altered.