a jacket you wear to frats because you don't mind if at the end of the night, it is covered in beer, frat sludge, or other unidentifiable liquids. Also, it is not a big deal if this jacket is lost during or stolen during the course of the night.
Person 1: Ah, I made the mistake of bringing my J.Crew pea coat out last night and now its covered in beer!
Person 2: You should have brought your fracket instead!
Mickey Fickey is the TV friendly version of Mother Fucker.
It first appeared when TBS first aired Spike Lee's Do The Right Thing back in the 90's, overdubbing all uses of the word "mother fucker" with "mickey fickey". This actually made some of the scenes, especially the part where the guy is trying to buy 20 D batteries, quite funny.
"D! MICKEY FICKEY, D!"
The term has since grown in popularity as people use it in place of mother fucker to be funny.