An exclamation of anger, frustration, tiredness, or sometimes even joy. Shit Balls can be taken to mean one of two things:
1) Balls or testicles that are coated or encrusted in shit.
2) Small amounts of feces clumped into balls
Larry: Sorry man, I can't give you a ride today.
Ricky: Aw, Shit Balls! Now I have to walk!
Larry: Suck one.