When you fold down the crease on a winter hat, creating less heat loss, and/or to put forth a steezy ghetto gorilla style. This technique is often used by homeless black men, or anyone trying to hide stolen merchandise in their hat.
"Get the manager, that dirty man is hiding a pack of blunts in his steetched hat"
by NikolaAP August 10, 2007
Get the steetch mug.