1) A derogatory term used to describe a male subject who has portrayed himself as a "pussy" or a "wuss". The term was orginally created by a man by the name of Kevin Hicks in the early 1990's. Usage of the term has grown widely since then.
Nick- "I'm not sure if I want to work out tonight man, I'm pretty tired from running earlier."
Kevin- "Hey shit head get your buff arms up PUSSKINS!"
It is said of the situation where a person has the bad luck to make contact with his testicles against an undefined surface or object, intentioned or not.
Given the nature of the word, it is more appropriate to design cases where the interaction is made with a moving object, for example, a ball.
Although it is extremely painful for the victim, it tends to be considerably funny to people who witness it.
Today in the baseball game the pitcher took a nutshot; the baseball hit him in the nuts.
Man, I just watched the funniest nutshot video ever.