An adjective used to describe a situation, event, etc., when the words "preposterous" and "outrageous" are not enough on their own, and they must therefore be combined into one glorious word.
Football Fan 1: Did you see Chad Ochocinco's grill?
Football Fan 2: Was it preposterageous?
Football Fan 1: It was preposterageous.
A Shackteau is a humble, weather-beaten, structurally questionable shelter located in a spectacular or highly coveted place—Wales, Jackson Hole, Sun Valley, Crested Butte, coastal Maine, the Alps—where the building itself may be worth almost nothing, but the dirt, view, access, and mythology make it absurdly valuable.
In use:
Shackteâu - We thought it was an abandoned shed until the realtor called it a rare alpine Shackteâu with unobstructed views and listed it for $2 million.