From what I can tell from this Ravelry page (http://www.ravelry.com/patterns/library/baktus-scarf), it's not a stitch, but rather a scarf design. Here's what this site says about the batkus scarf:
"This is my version of a scarf that was all over the Norwegian blogs a couple of years ago.
The principle is to take one or a couple of skeins, and knit a triangle using your exact amount of yarn.
A good way to use up one of those single skeins of sock yarn in bright colours.
It works with any kind of yarn, but I prefer a less than bulky yarn.
This is a garter stitch scarf. If you make it in stockinette stitch, you will have the Karius version.
Karius and Baktus are two characters in a Norwegian children’s classic."