The story
From a September 2020 post by Tumblr user gomjabbar lampooning hardcore Star Wars fans and Star Wars character names: "every time a new Star War^([sic]) movie or show is announced all the fans are like 'OMG Glup Shitto is back 😭😭😭'". The name Shitto was presumably constructed from shit + -o, suggesting the poor quality of such characters. The name somewhat resembles actual Star Wars characters such as Han Solo or Watto.
Etymology from Wiktionary, CC BY-SA 4.0.