A more polite way to say "suck my dick". Literally translates to "suck my dick please". It is not usually used to actually tell someone to suck your dick, but used as a troll weapon or as a form of trash talk over online FPS chat boxes.
Fag: LULZ you just got pwnednoob. smdplz!!1 (suck my dick please)
Regular person: Wow you're a fag. And no I will not.
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.