look up any word, like donkey punch:
 
1.
A substitute for "bullshit". Generally used when a teacher asks you what you said, after saying bullshit.
Kid: "Man, that's total bullshit."

Teacher: "What did you say?!"

Kid: "Oh, sorry ma'am. I said "bullship." Y'know, a ship that carries bulls overseas?"

by Fraknor May 19, 2008
 
2.
Charging ridiculous shipping prices. I.E $25 for a $2 item. Nearly every place but Zappos.
"OH MY JONAS! I can't wait to get this Arabian wife for $20! Wait... $1,000 for shipping?! That's bull ship!"
by Markisflippinsweet August 30, 2011