A dirty, used condom belonging to an elderly male. Typically never thrown away and usually disposed of in an improper manner like left on the floor, in a bed pan for the nurse, on the back of a golf cart, or on the sidewalk.
Frank was walking in to the nursing home to visit his grandmother when he spotted Pappy's Old Dress Sock tossed in the corner of the lobby.
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 $2 million.