It combines "let's go eat" into one word. This word usually follows the negatory answer to the question, "Jeet?"
After John answers no the the question, "Jeet?",

Chuck responds with "Skweet."
by Chuck Clemence August 14, 2008
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So sweet it makes you skeet

Sweet+Skeet=Skweet
Man1:" Hey did you hear that AttackAttack, A Day To Remember, The Devil Was Prada, and 3OH!3 are playing at warped tour!"
Man2:"SKWEET SKWEET"
by StrollinNolan April 7, 2011
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