A lighter form of referring to someone as an offensive form of gyspy, due to the comical ending of the phrase. Often used in jest. Although gypsy's are stereotyped in modern society as being 'lowlife', many of them are actually perfectly normal people, thus making this phrase a derogatory term.
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.