The act of running out in traffic and making a masturbatory gesture onto the street as if to release some penis pudding into the path of oncoming cars.
"Dude that Patkid laid some street skeet right in front of that chick in the Jetta. She even swerved to miss it!"
An extension of the word yeet, used for more emphasis on showing excitement torwards something, another way to say “yes” or “oh boy”. Basically, the phrase can mean many things. Not to be confused with the term yeet yeet potato skeet or yeet yeet dog treat or DEFINITELY not yeet yeet I beat my meat for those being completely different terms.