A word used in Cap'n Crunch commercials that attest to the cereal's ability to stay crunchy in milk. The noble cap'n always manages to solve daily predicaments faced by children with the power of his crunchitization, taking the children to a world full of glorious artificial flavoring. It has nothing to do with anal sex.
Two children at a restaurant avoided a disgusting meal of es cargo (SNAILS!) when Cap'n Crunch flew his ship through the wall of the restaurant, much to the astonishment of the French waiter, and the boy and girl are elated when the cap'n crunchitizes them so they can enjoy a $1.99 box of cereal instead of a sophisticated meal at a restaurant that their parents worked hard to earn.
To take something small, that doesn't quite qualify as a theft. Probably from the Danish "skæv" or the Dutch "scheef", both of which are pronounced similarly, meaning "askew, or not quite right'. To change an item's ownership without permission, but only something small and of little worth.
"I skeefed an apple off the neighbor's tree." "I skeefed some chips outta your bag when you looked away." "Don't skeef my chair when I go to the bathroom."