When a group of gentlemen, whilst floating by innertube or other floatation device, "dock up" by each grabbing the tallywhacker to his immediate right, forming a circle of jerkery.
"This floating circle jerk was conducted by professionals in a controlled environment. Do not attempt at home."
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.