Derivative of the game "you laugh you lose." In "you laugh, you lose" the object is to do something funny. If someone else laughs, they loose. "I raf, I ruse" is either A: a chinaman stating the fact that he/she laughed and lost, or B: a chinaman, not understanding the concept, repeats the game name replacing "you" with "I".
A:
John- "hey look what I'm doing"
(john does something ridiculous)
Chinaman- (laughs) "(sigh)..i raf, i ruse."
B:
John- "hey let's play you laugh you lose."
Chinaman- (confused) "Waht's that? I raf, I ruse?"
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.