Dasocks appears to be based on the Chinese idiom of 画蛇添足 (literally meaning "to add feet to a snake"). In the proverbial story, a group of scholars go out to drink but only have a small amount of wine among them. They then agree to have a snake-drawing contest to see who gets to drink it. One of the scholars does so and boasts about his speed in drawing, and adds feet to his snake picture thinking he has time to do so. However, another scholar finishes his drawing and lays claim to the wine, on the grounds that snakes do not have feet, so the first scholar has not drawn a snake at all. The runner-up is given the wine to the agreement of his peers. The idiom is thus synonymous with ruining one's efforts by adding or doing unnecessary things.
"Dasocks" is a wordplay on dasoku (Japanese: 蛇足,"superfluity, unnecessary addition", literally "feet on a snake") and the English socks.
Putasockinit is a corruption of the phrase "Put a sock in it" which normally means "shut up".