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1.
A warning or caution. Used by piece-of-shit A-holes at work who try to sound important in meetings to cover up their utter incompetence.
If that fuckin' douchebag says "caveat" one more time, I'm gonna kick him in the taint. Fuckin' choad.
by Jevvy November 06, 2003
 
2.
Verb. To consume an item of food in one mouthful whilst yawning.
"High levels of donut caveating may be observed at board meetings."
by L K Piegeler October 12, 2004