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1.
A variant of "dickwit" in common use in the Northern Territory of Australia. Used in exasperation after slamming the phone down.
"COCKWIT!!!"
"Who was that?"
"That fuckinwanker of a mining engineer"
by Agg August 10, 2003
 
2.
A commonly used word of derision to describe those who could be said to be somewhat arrogant or perhaps those with an over-inflated sense of self worth.
After being dismissed in a cricket match you might refer to the opposition as a bunch of cockwits.
by M Castley August 08, 2004