A meminductor is a new type of memory device. It is of importance to study meminductor model and its application in nonlinear circuit prospectively. For this purpose, we present a novel mathematical model of meminductor, which considers the effects of internal state variable and therefore will be more consistent with future actual meminductor device. By using several operational amplifiers, multipliers, capacitors and resistors, the equivalent circuit of the model is designed for exploring its characteristics. This equivalent circuit can be employed to design meminductor-based application circuits as a meminductor emulator. By employing simulation experiment, we investigate the characteristics of this meminductor driven by sinusoidal excitation. The characteristic curves of current-flux (i-φ), voltage-flux (v-φ), v-ρ (internal variable of meminductor) and φ-ρ for the meminductor model are given by theoretical analyses and simulations. The curve of current-flux (i-φ) is a pinched hysteretic loop passing through the origin. The area bounding each sub-loop deforms as the frequency varies, and with the increase of frequency, the shape of the pinched hysteretic loop tends to be a straight line, indicating a dependence on frequency for the meminductor. Based on the meminductor model, a meminductive Wien-bridge chaotic oscillator is designed and analyzed. Some dynamical properties, including equilibrium points and the stability, bifurcation and Lyapunov exponent of the oscillator, are investigated in detail by theoretical analyses and simulations. By utilizing Lyapunov spectrum, bifurcation diagram and dynamical map, it is found that the system has periodic, quasi-periodic and chaotic states. Furthermore, there exist some complicated nonlinear phenomena for the system, such as constant Lyapunov exponent spectrum and nonlinear amplitude modulation of chaotic signals. Moreover, we also find the nonlinear phenomena of coexisting bifurcation and coexisting attractors, including coexistence of two different chaotic attractors and coexistence of two different periodic attractors. The phenomenon shows that the state of this oscilator is highly sensitive to its initial valuse, not only for chaotic state but also for periodic state, which is called coexistent oscillation in this paper. The basic mechanism and potential applications of the existing attractors are illustrated, which can be used to generate robust pseudo random sequence, or multiplexed pseudo random sequence. Finally, by using the equivalent circuit of the proposed meminducive model, we realize an analog electronic circuit of the meminductive Wien-bridge chaotic system. The results of circuit experiment are displayed by the oscilloscope, which can verify the chaotic characteristics of the oscillator. The oscillator, as a pseudo random signal source, can be used to generate chaotic signals for the applications in chaotic cryptography and secret communications.