I've been holding on to a whole set of words
Well, my goodness, you'd better let go, I think, or you'll get cramps...
But your meaning of absquatulate sounds like what I'd use abscond for. The inimitable source I got it from says (more or less) that it means to hop up in a hurry and run over and squat (as in settle) somewhere else. There was no mention of anything necessarily being taken along. I still don't know if there's such a word as squatulate, but I think there ought to be scond, and that it should mean punishment: "You dirty rat, I'll scond you for that"!