The area of epidermis on your wrist that emo kids are fond of cutting. Usually covered my wristbands attempting to hide the scars of the emo kids. The satis is often confused with lattice...but there is no similarity between a small fence like structure and the petite area of flesh on your wrist.

When things are OK. Not great but not shitty either. Short for satisfactory but shortened for ease of speech or writing.
Used in F700's to denote a functional check was satisfactory.
Can be shortened to "S", which also stands for serviceable.

Pretty much, if things are ticking along as wanted, or advertised, then you are "SATIS"