If you don't know what it means, either say "unable" or ask for clarification. When I hear it I think of it as "make short approach."

Doesn't seem to be a standard term found in the Controller Pilot Glossary. If its a local instruction then I'd go with asking for clarification. Don't assume.

I've heard the phrase used by pilots when they brag about their landing, meaning they touched down right on the runway numbers.

The tower controllers at SMO use this one all the time (they use a lot of non-standard procedures here). They usually say it to an aircraft on base, and it means they want the pilot to immediately turn towards the approach end of the runway from his current position instead of flying a square base-to-final turn. I guess it's similar to a short approach, but not really the same thing, since a short approach involves a shortened downwind leg and a shortened final.

I could also see it meaning to roll out to the end of the runway.