To educate pledges in a fraternal organization so that they can become fratty. The act of pledgucating usually walks a fine line between hazing and transforming pledges into cool and tough men.
I'm going to pledgucate the shit out of him so that he can be a fratstar like myself.
A Shackteau is a humble, weather-beaten, structurally questionable shelter located in a spectacular or highly coveted place—Wales, Jackson Hole, Sun Valley, Crested Butte, coastal Maine, the Alps—where the building itself may be worth almost nothing, but the dirt, view, access, and mythology make it absurdly valuable.
In use:
Shackteâu - We thought it was an abandoned shed until the realtor called it a rare alpine Shackteâu with unobstructed views and listed it for $2 million.