It is a derivation of the word 'asshole'. Closely linked to the 'askhole'. Maybe even the same guy...The 'testhole' loves to tell you about how he/she did on a test when you did not even ask them. They will freely give the information because they are confident that they have achieved a better score than you.
You: (thinking out loud and minding your own business) " Man, that fuckin sucks. I totally thought I'd do better on the test than that."
Testhole: ( lingering in your immediate area waiting for the moment to ask) "What's wrong? How'd you do?"
You: ( Not paying attention enough to recognize you are setting yourself up) "86."
Testhole: ( With heavy undertones of false modesty) "100. Sucks for you man. I didn't think the test was that hard." ( Smiles and walks away)
Noun - In snowboarding or skiing, the large, tightly packed groups of first timers found mostly comprised of little children and their parents. Often not quite sure of what they're doing, going slow, and/or swerving from side to side in wide turns. So named thanks to the brightly colored tassels found on the backs of the children in these groups.