usually said right before the word "nuts". Can be usually used as a quick, witty remark when somebody starts bragging, or says anything for that matter.
Like when somebody says, "Wanna go grab a bite?" you can respond with, "Why don't you grab a bite of DEEZ NUTS!!!"
OR when someone says "I'm a buy this and that..", you can say something along the lines of "Why don't you buy a pair of DEEZ NUTS!!"