Giving it to someone using your nose. Usually in the arse, but not necessarily.
"I got snutted so hard last night my bum was dribbling for weeks."
"James snutted too often and now he gets spontaneous nose bleeds. His friends are worried he's on the cocaine."
"He wanted to snut but I said no so he just did a line of coke up my sphincter and then we frotted."
"Yay, snutting!"
Geek 1: There's 'Snuttin' but water in that hole!
Geek 2: That theory is highly unintelligent for an intellectual homosapian such as yourself to use in such an inaccurate way.