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Pants which have holes in the knee. The leg is put through these holes instead of through the leg bottoms. This gives the effect of shorts in the front and pants in the back.
The shants were worn in the summer.
Shants is a new word in the English language popularized in the late 2000s. Shants are short pant that end mid-calf or just below the calf.

Previously know as capri pants.
Shants are great on a hot summer day, when you need to dress a little less formally, but still want to be comfortable.
Shants by Shants inventor March 5, 2009
pants that are so high that they cover your chest, therefore, a shirt is optional
The woman was in such a hurry, she put on a pair of shants and skipped a shirt.
shants by astra22 March 6, 2011
Short for "Shirt Pants." Pants that can be considered to be both a shirt and pants because they are worn so high.

Can also work for "mom jeans" as they are also worn high.
Shants by shantz February 13, 2013
Shorts that are so long that they appear to look like pants.
Bob: Is that guy wearing pants?

Seth: No those are shants, but it looks like he is wearing pants
Shants by pants/ports June 9, 2013
Pants that can be zipped off and turn into shorts. Generally pronounced in an English accent
The weather keeps bloody changin', good thing I wore shants today!