it's a combination of the words: Sloshed, Hammered, Wasted, Ripped, Euphoric, Destroyed. Basically it decribes being drunk in the utmost emphasis, and also can be utilized when stating you want to get drunk. I.E. let's get crunk.
when i got back home i was totally shwastered, and couldn't bang this chick
person number 1: "oh wow Justin the football player, takes a long time in the bathroom"
person number 2: "hes probably masturbating while he shits"
person number 1: "haha, Justin shasterbates"
person number 2: "hahahaha thats clever. shasterbate!"
Consuming as much Alcohol as possible in a certain time range. Eventually one will end up in the state of mind of being shit-faced/plastered. (Shlastered)
In PCB we were so fucking fed up with this ginger fuck named harris that we would just make sure he would get shlastered and pass out.
The act of being a douchebag while simultaneously being very grimy with your money. Thus, being really cheap, yet still maintaining an attitude that you're better than anyone else.
12 step recovery jargon referring to someone new who talks about how great life is, now that they'resober. Usually meaning that the person is out of touch with reality.
The new guy seems pretty happy for a dude who has no job, no money and no family. He must be on a pink cloud.