Any reading material (i.e. books, comics, magazines, etc.) that one takes into the bathroom to read during a bowel movement. No matter the condition of the reading material, once it has been taken to the bathroom, it becomes shitlature.
Steve: Hey man, don't you have a copy of the Collected Works of Edgar Allan Poe?
Dave: Yeah. You can borrow it if you want. It's in the bathroom in the magazine rack.
Steve: Hell no man! I don't want your shitlature!
Also known as "Cold Yeller Dope" is a slang term for beer in the Southern United States.
"Dope" itself is an outdated Southern slang word for a soft drink or soda.
"Hey Clyde, reach down in that cooler over there and toss me one of them Cold Yellow Dopes."