The Rice University Neologisms Database

Similar meaning to ‘sketchy’; untrustworthy or shady, deserving a cautious or wary approach. This word is a blend of the words ‘sketchy’ and ‘sleazy’ and its meaning reflects this. This is because ‘sketchy,’ ‘sleazy,’ and ‘skeazy’ all have relating meanings. Specifically, ‘sleazy’ is slang that often refers to people or places and can be a reference to pornography. ‘Sketchy’ is described in the entry above. ‘Skeazy’ therefore is a combination of these two meanings. The speaker was a college-aged female traveling with a group of friends who are of similar age. As stated in the entry for ‘sketchy,’ ‘sketchy’ is a popular word among this age group. One way to one-up a word as widespread as ‘sketchy’ is to create an “offspring” of the word, or one that is slightly different in sound but has a similar meaning. ‘Skeazy’ is an example of this formation; it has the same meaning as ‘sketchy’ and the ‘sk’ sound informs the listener that the speaker uses ‘sketchy’ but is cool enough to add a fresh twist.