The Floof-o-meter is basically like little points. If someone thinks you've done a good job, they will 'nuzzle' you which is the link/button under the Floof-o-meter. You can only give one member one floof a day I believe. But you can give floofs to any amount of members you would like to give a floof to. However, you can't floof yourself! Others must do that :)
There is nothing saying that you can't do that, though it is preferred if you earn them like a lot of people do. ^^