Used in almost any form of conversation, but generally to let one know that you have no fucking clue as to what they're talking about.
Such phrase originated in the the small shit hole of Creston, Iowa. Any rights to the phrase, belong to the select few retards, that are just smart enough to post this.
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 $2million.