When you meet a hot girl and just make out with her, because you feel uncomfortable about going further sexually. You do however brag about it to your friends.
"You see that girl with the pretty eyes? I'm definitelySteve-Fucking her tonight!
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.