A full splice cue is built by splicing two pieces of wood together, one wood is used for the nose of the cue and the other piece is used for the butt of the cue. So, if you were to take the wrap off of a full spliced cue, you would find the bottom of the points below the top of the wrap.
A short splice cue is built from three different pieces of wood. The nose with points are built together, then, the handle is fastened to the nose and a butt sleeve is attached to the other end of the handle wood. The point work ends where the wrap starts, unlike a full spliced cue.