Please help me to understand the meanings of
1) "to spoil little shit"
2) "she is my home girl"
3) "butt-crack Santa"
4) "Speedo padding on the swim team."
You should try to provide some context if you want the meaning of phrases. Many strings of words mean nothing in isolation.
4. Speedo is an Australian brand of swimwear. This refers to men putting something down the front of their swimming costumes to enhance their genital profile.
First of all, please always keep in mind that "sh*t" is considered to be profanity, or a curse word, and is not usually used in polite conversation. (For example, on US network television, the censors allow "hell" and "damn" and even "ass," but not "sh*t)
That said, quite often "sh*t" is used as a term of grudging affection. If you're embarrassed (but actually pleased, deep down) when someone gives you an unexpected gift, you might say: "You little sh*t, you didn't have to do this!" A child or adolescent might be referred to as a "little sh*t" as well; in your example I'm thinking that someone was describing a spoiled child.
She is my friend, she lives in my neighborhood, she and I share the same background/upbringing/heritage.2) "she is my home girl"
This expression comes from the film Twilight. The man who was playing Santa Claus had pants that wouldn't stay up - they sagged down enough so that his "butt crack" was visible. The same thing often happens to construction workers and plumbers who wear tool belts loaded with heavy equipment.3) "butt-crack Santa"
Have you ever seen a Speedo swimsuit? Some men might feel compelled to put padding in the front of said suit in order to enhance their, um, physique.4) "Speedo padding on the swim team."