1. Informal. A moron, a hugely incompetent person or group of persons lacking in intelligence and/or lacking the necessary equipment, skills and experience esp. relating to sexual performance.
2. Sport related jargon. Someone or something of great initial promise that falls embarassingly short.
3. Business. A liar. A Seller of commodities for personal gain. A business person lacking integrity.
A VENKY (English pronunciation /vɛnki/) is a Froot Loops loving creature who carries around a lunchbox with vodka. During their freetime, Venkies enjoy frootlooping and rubbing goats. They are generally hairy and resist showering or shaving.
A Venky is a slightly off-centered bipedal organism with a penchant for fruitloops and a tendency to grow mustaches that protrude in a psuedo-terrorist-like fashion.
Wow, look at that guy eating fruitloops. Must be a Venky.