"Posette" was the nickname for the default nude female figure in Poser 4 / PoserPro (1998-2002 or so). Her male counterpart was usually referred to as "Dork".

"Renda" (the no-kidding real name of it) was Renderosity's project to try and out-DAZ DAZ... 2003-2004 or so, I think? Could be wrong on the date, probably am. They contracted someone to put together a female mesh as a standalone third-party figure they could center their marketplace around instead of having to rely on DAZ' Victoria series meshes for their income. Just as Renda launched, folks discovered that the hands and feet were grafted off of the Poser 4 default female model. The mesh-monger who built Renda mistakenly assumed that this was okay since both Renda and Posette required Poser to run (DAZ Studio wasn't known to anyone outside of DAZ at the time.)

The reason it was scrapped is pretty simple to anyone who makes humanoid meshes - it's the same problem illustrators have when they learn to draw people, really: Hands and feet are hard to get right. It's tough to grok in two-dimensional drawing; it's harder by a factor of 5000+ to make and properly rig a somewhat photorealistic set of them in CG. If they had to properly make and rig their own from scratch, it would have likely taken 2x as long as it did to make the body and face, so (assumption time) Renderosity decided to cut their losses and not throw good money after bad.

Fun trivia bit - Posette's hands and feet have found their way into a lot of third-party meshes... the earliest example I can remember is Alexa, from the old (and long fossilized) 3D Commune site (amazingly enough, I still have that mesh on a hard drive somewhere. Loved the hair bit.) That artist re-made everything after being notified of his mistake... pretty herculean task, but he did it. There's been others as well, though I can't recall offhand.