We have obtained the first high-dispersion observations of RX Pup in the wavelength region 1200-2000 A with the International Ultraviolet Explorer. RX Pup has been classified a symbiotic star and has been compared to slow novae as well as to 11 Carinae. The anomalies that we observed in high-excitation lines in RX Pup such as He II, 0 III], C III], C IV, and Si IIIl that show split line profiles, Doppler displaced multiple components, and possible inverse P Cygni profiles inN III] and N IV J suggest dynamic activity in circumstellar material that probably has the form of rings and/or gas streamers between the cool giant and the hot companion. The continuum observed by us in low dispersion is fairly flat in the wavelength region 1200-2000 A and rises toward longer wavelengths in the region 2000-3200 A. It cannot be due to a star earlier than AO II. Alternatively it may be from an accretion disk. We find electron densities in the line-emitting region in the range 10 9-10 11 em-3 , temperatures in the range 10,000-20,000 K, and linear sizes :S a few x 10 13 em. We find that the photoionizing radiation may be due to the presence of an unseen, hot subdwarf with most probable effective temperature in the range 75,000-90,000 K. Alternatively it may be due to an accretion disk around a secondary with boundary layer temperature-10 5 K. Short-range as well as long-range monitoring of this very interesting object in the far-UV would be very helpful in understanding the nature of its peculiar properties and the connection between slow novae and symbiotic stars.