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1.
A sarcastic expression of gratitude to an unpleasant women – usually spoken in a muffled manner, so as to be mistaken for "thank you".
Hostess: "I refuse to seat anyone costumed as Elvis Presley."

Elvis impersonator: "Skank you... skank you very much."
by elsquid September 27, 2009
 
2.
(term) How you say thank you to a slut. How you show gratitude for smutty sex.
That was some sloppy sex, skank you.

Skank you for the cookies Mrs.Anderson.
by Cory n Jamez December 18, 2006