The Collaborative International Dictionary of English v.0.48:

Absquatulate \Ab*squat"u*late\, v. i.
   To take one's self off; to decamp. [A jocular word. U. S.]
   [1913 Webster]

WordNet (r) 3.0 (2006):

absquatulate
    v 1: run away; usually includes taking something or somebody
         along; "The thief made off with our silver"; "the
         accountant absconded with the cash from the safe" [syn:
         abscond, bolt, absquatulate, decamp, run off, go
         off, make off]

Moby Thesaurus II by Grady Ward, 1.0:

39 Moby Thesaurus words for "absquatulate":
   abscond, beat a retreat, bolt, clear out, cut and run, decamp,
   depart, desert, dog it, elope, flee, fly, fugitate, go AWOL, jump,
   jump bail, lam, levant, make off, powder, run, run away,
   run away from, run away with, run for it, run off, show the heels,
   skedaddle, skip, skip out, slip the cable, split,
   take French leave, take a powder, take flight, take off,
   take to flight, take wing, turn tail