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1.
Niv
The word used to define all awesomeness, if you don't have anything to call something, call it niv, can be used in place of any word as either a compliment or an insult
Some Kid: I name this game NIV BALL
Some other kid: What a cool name

Bill: You're such an awesome Niv!
Ben: Thanks!

Spot: Woof woof woof
Spot's Dad: You fail nivically at woofing!
by Musicsquid September 16, 2009
 
2.
Niv
it can be used in place of "fail"

to lose at something or screw something up
ouch, that had to hurt, epic niv!
by cheip September 28, 2010
 
3.
NIV
The New International Version. A very popular, and fairly accurate, translation of the (Christian) Bible.
Look! I just got my NIV from Church!
by Brian December 09, 2003
 
4.
NIV
From the Finnish words "Nauran/Naurattaa Ihan Vitusti", meaning "Laughing like fuck", essentially equivalent of LOL.
Look I'm goatse!
-NIV
by Pyllyvekkuli August 14, 2007
 
5.
Niv
To overshare or give to much unnecessary and often vulgar information.
Gareth: Paul just told me this completely disgusting thing he did with a bat and a lion...
Suzie: Was he nivving?
Gareth: Yeah....
by Cro123 February 20, 2010