this word is not meant to be demeaning in anyway; it means that u r so hot and sexy that your body turns girls and guys on equally; you don't need to be a "skank" in order to be skankalishious (although this helps) but you must be gorge-ass, bootylushous, and boobylishious; it means that you can get with girls and guys cuz u are that damn hot!
Gurl: Dammmmnnnn gurl, why u so skankalishious?
Sexy Roommate: I don't know! I mean, I don't dress or dance like a skank! I think I am just toooo dammmnnn fine!
Gurl: Hell yeah gurl!