A combo of the words Slut, Skank, Cunt and Sasquatch. Used to describe a female that is being especially difficult, or annoying. This word should be used wisely and only in the most extreme of situations.
Amy: Blah Blah Skankity skank slutty slut slut... BLah.
Beth: Hey Amy why don't you shut the F up and stop being such a Skuntsquatch?
Looking for sex partners. Usually used to refer to a male seeking female company. But it could possibly be used to refer to a lesbian seeking sex partners or perhaps to a gay man seeking a cross-dressing or otherwise effeminate male partner.
Accusing someone of "Chasing Skirts" can imply that the accused person is usually unsuccessful in his\her\other's endeavours.
"Did you seeBrad? Man, does that guy ever do anything *besides* chasing skirts?"