Your question sparked my curiosity and I spent some time googling "fu", which apparently has several meanings. One site has several videos by a Chinese language teacher, three of which address different meanings of the character fu:

1. hill or slope (see video HERE)

2. captive/capture (see video HERE)

3. to bow one's head (see video HERE)

Several sites I googled say fu is a good luck symbol meaning Blessing, Good Fortune, Good Luck and is one of the main Chinese characters used during Chinese New Year and Spring Festival. One site offers three possible reasons why the fu symbol is hung upside-down to bring blessings, which you can read about HERE.

According to the urban dictionary site, the meaning of "fu" in kung fu is time. Another site on the term kung fu says the meaning of fu is man.

An article on mysterious Chinese characters states that the original meaning of fu is number 1, but that it is pictorially symbolic of the traditional men's hairpin. The fu character is usually used with the connected characters zhangfu (husband, spouse) and consists of the two ideograms for da and yi, meaning big, in contrast to women. The article cites no sources. (read more HERE)

Fu is also a given Chinese name for a girl or a boy, with several meanings, such as one who is rich, blessed, noble, or strong.

With the exception of the language videos, I'm not sure how reliable the above info is, as I'm no expert on the Chinese language.