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1.
A mixture of shit and Jizz often slurped up during a felching session.
Fetch my felching straw , there's some fresh shizm to slurp.
by oddballed January 23, 2010
 
2.
Can be used as a polite euphamism for 'shit', specifically where 'shit' is used as an inproper noun. This usage is prevalent online where expletives are scanned and rejected eg: corporate emails. Is often used on eBay.

Often used to replace 'shit' in 'the shit' where expletive scanning occurs.
I forgot to attach the shizm to my last email, here it is again.

For Sale
Isuzu Bellett
No reserve! Grandma car, 40,000 miles!
This car is the shizm! Buy it now!
by bellettmonger September 02, 2008
 
3.
shizm is a word uesed as a substatute to the word "stuff"
"dude what up?"
"nothin bro just chillin doin shizm"
by cory mellon March 09, 2004