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1.
A dumbfuck; a fucknut; someone more worthless than a peso; your semi-retarded brother who likes to fuck pumpkins.
"Close the door, shitnick, you're letting all the flies in!"

"Stop fucking that pumpkin, shitnick!"
by Brendon November 18, 2003
 
2.
The action of stealing something of little to no value. Most often when hammered or tanked.
"Dude, lets shit-nick that lamp shade"

"nah, lets shit-nick that shoe horn"

next day...
"why the fuck would someone steal a shoe horn?"
by DMPDpete August 04, 2008