I have heard several descriptions for it but the most common is when
you give your low lvl Char equip or money from your higher lvl char. Like a
lvl 2 Cleric with full chainmail you know has been twinked.

Kiting is when that Druid (or other caster with a DOT spell) casts it
on a monster and then runs, casts, runs,ect .. till the monster is dead.