Created by Gucci Mane in his song "Kitchen," nobody is really sure what the true definition is. Chances are it pertains to his uncanny diligence in the kitchen, or how well he sells drugs.
Gucci unquriest a so icy shark
Selling white chalk tryna duck these narcs
It is said of the situation where a person has the bad luck to make contact with his testicles against an undefined surface or object, intentioned or not.
Given the nature of the word, it is more appropriate to design cases where the interaction is made with a moving object, for example, a ball.
Although it is extremely painful for the victim, it tends to be considerably funny to people who witness it.
Today in the baseball game the pitcher took a nutshot; the baseball hit him in the nuts.
Man, I just watched the funniest nutshot video ever.