a term used colloquially around the Northeast United States (probably elsewhere) referring to cannabis (see also marijuana,weed,pot, etc). It is likened to the quality of cannabis regarded as "mids" or "midis" elsewhere in the world. AZ is found abundantly at decently cheap prices people are known to also refer to AZ as "regs". The name is said to originate loosely with the State of Arizona, however, AZ may originate at any source, and thus led AZ to become a replacement of mids.
Person A "yo what is this"
Person B "yo it's some AZ you got a blunt?"
Person A "eh, whatever, let's burn."