Doesn't have a literal meaning. The correct response when someone begins speaking Ebonics to you and you are having difficulty understanding them.
Jamal: Yo dog whats happenin my nigguh, yo ass looks like yous just got done on a four day bender.

Steven: Shizzle tizzle gizzle gar.

Jamal: Oh, sorry man I meant to say how are you doing my friend? You look tired.
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"That is off the hook for real" would be the literal meaning of the phrase. It means that something is extremely novel and interesting, and that you're dumb enough to think you sound cool adding "izzle" to the end of your words.
Dude A: Hey dude, have you seen Frank's new car?
Dude B: Why yes I have. That tizzle off the hizzle foshizzle.
Dude A: WTF?!?!?!
by Rosekelly June 22, 2008
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The dust left on the jersey of a famous player. Most likely, a cum shot.
Man, did you see that run? He must have had some tizzle dust on him.
by cranky44 August 21, 2010
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