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1.
Derogatory Seneca Indian term for masturbation. Usually said with the speaker's fore finger and thumb in a "C" shape.
"Skin it, retard" or, "He had to skin it last night, ain't it!"
by Quido August 25, 2007
 
2.
similar to the phrase give me some skin

has to be done in doubles-- first person slides his hand on the top of the second person's hand, then vice versa

an expression of approval, or praise, like a high five
Matt: " Hey dude, nice move, you're quite the Chinese checkers player eh?"
Joe: " Yeah, I've been practicing quite a bit lately"

Matt and Joe proceed to skin it with each other
by ssullivan January 16, 2006
 
3.
A SkinIt is 59 seconds less than a minute...
You Got about a SkinIt BeFore I Beat Yo Ass!
by Ray July 02, 2004