When you have anal sex with a woman and get her diarrhea on your penis.
Bob: "Dude, Jenny gave me a total shat dack last night."
Jim: "I'd still tap that ass."
Guy1: "You're such a shat dack."
Guy2: "Isn't that when you get shat on your dack?"
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'Shat my dacks' is the past tense for 'Shit my dacks'. This term is commonly used when someone was scared shitless when looking back on past events.
Morgz: Oi dickhead, we're gonna go see IT Chapter 2 on Friday night. You coming?
Dale: Ahh fuck I dunno aye, last time I watched a horror movie, I nearly shat my dacks... not a good fuckin time.
Daryl: *laughs hysterically*
Teacher: THAT LANGUAGE DOES NOT RELATE TO THE GEOGRAPHICAL CHANGES IN BUSINESS, DALE!!!!!
*class laughs so hard they all shit their dacks*