1. A phrase coined by an art student, and later made popular around 2001.
2. A group of gangsters, or original gangster alike, who enjoy playing the game of basketball below street lights.
A basketball bouces into traffic
C-Dawg (To C-Dope): Awww-sheeet, let it go, let it go, the homies in the street light will get it.
C-Dope: 'Ight, 'ight...
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.