a sound people make in response to an awkward, unintelligible, or odd comment or question in an attempt to sound like a pretentious prick. Used predominantly by sarcastic assholes and ditzy teenage girls
Nerdy guy: "I'm having a get-together this weekend. It would be great if I could see you there. What do you say?"
Ditzy teenage girl: "tssss, um yeeeah... I don't think so."
Girl walks away, leaving nerdy guy thinking "What a bitch."
The sound of Howard Dean derailing his own presidential bid.
"We're going to South Carolina and Oklahoma and Arizona and North Dakota and New Mexico. We're going to California and Texas and New York! Yeeeeaaaaaaaahhhhh!!!"
It is said of the situation where a person has the bad luck to make contact with his testicles against an undefined surface or object, intentioned or not.
Given the nature of the word, it is more appropriate to design cases where the interaction is made with a moving object, for example, a ball.
Although it is extremely painful for the victim, it tends to be considerably funny to people who witness it.
Today in the baseball game the pitcher took a nutshot; the baseball hit him in the nuts.
Man, I just watched the funniest nutshot video ever.