Popularized by Chris Farley in the movie Tommy Boy, shnikeys is a euphamistic way to say shit. Although it is usually prefaced by the word "holy" it can also be used in other contexts. Sincere use of the word is considered hilarious.
Chris Farley claimed that his father used to use the word in his household because he never wanted to swear in front of his kids.
A word that reveals dismay or surprise depending on the context. Often replaces the use of the word 'shit' in a sentence or statement. Used increasingly during the 90's, can be seen used in the film Tommy Boy.