What it means: nautical term for a container with the day’s water supply in it; the modern connotation is gossip, news, or idle talk

The rumored (yup, pun intended) origin of how we use the word today is this:  In days of old, an open cask or keg (called a butt) would be placed on the deck of a ship at sea, near the hatch (skuttle).  Sailors would gather at this watering hole to chew the fat.  Sounds suspiciously like the office water-cooler.

Why I chose it: It rolls off the tongue, just like idle chatter.