This is a fine old English word and is really just a flamboyant way of calling somebody or something a fraud. It comes from the same strange corner of the English language that gives us "tomfoolery" and "shenanigans" and feels like it belongs in the world of Vaudeville. We don't know about you guys, but we're totally inspired to start using this one now!
Because it starts the same way as "chicken", you could be forgiven for thinking it's pronounced "chick-cannery", like somewhere you might shove chickens into tin cans, but that's not the way to do it. "Shi-cane-urry" should be what you declare when you suspect someone's being dishonest with you, and if you think it sounds like the twisty-turny section of a racetrack, you're right - they come from the same root word.