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To be bored shitless and doing nothing at all.
Being lazy.
Person #1 - "So what're you doin today?"
Person #2 - "Nothin... just jackalacking around the house."
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(noun) One known for being less than intelligent. Having a low I.Q. and usually acts in a very retarded manor. Also used as a "G" rated version of jack ass.
Butlers wife beat him down for being a jackalack!
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Schiester or scammer, someone who tries to get over on you or hustle you any chance they can
That jackalacker said he was hooking things up but charged me more
I'm just jackalacking around. What are you doing?
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