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1.
Used to describe anything bona fide or legit like as a seal of approval.

Originated from Andy Griffith (speaking on a Ritz Cracker TV commercial):
"Mmm-mmmmh. Anything sits good on a Ritz." Supposed to mean that Ritzes are so excellent -- ritzy, even.
IT SITZ ON THE RITZ refers to being good enough for a Ritz (figuratively).
Not limited to just food>
"I sure do like King Kelly orange marmalade. IT SITS ON THE RITZ."
"This Humboldt Purple I gotz here SITS ON THE RITZ. Here, load a bowl and see for yourself."
"Oh, that's just my cuz. He OK; he SHITS ON THE RITZ."
by Chengo Bolemongo October 05, 2006