N. Typically refers to the residue remaining on the tip and shaft of the penis after anal sex. The effect is more pronounced on women (or men if you're into that homo shit) that are full of shit, both metaphorically and physically.
I slept with Nevea the other night and fucked her ass so hard I think the cock shit is permanent. That ho needs to clean herself out more often.
Generally refering to something that just sucks. Kind of like when you see a sexy man across the room and he ends up being gay.
Person 1: That guy is soo sexy!!
Person 2 (male): Thats my boyfriend, hunni!
Person 1: That is cock shit!!