Used throughout mid-west/East Coast areas to describe some person or event that is negative. Can be used to describe someone's lack of skill, something useless, an unfortunate event, basically anything that sucks
"You missed the Steelers' game? That's fuckin' titty!"
"Zack is titty at baseball but he acts like he's the shit"
"Ms. Smith gave you a D on that paper? That's titty...I got an A"