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3.
THE best word/made up word in the world. can be the replacement of ANY swear word in the english language.

A Shnazzing Lesson:

Go fuck yourself - go shnazz yourself
Shithead - shnazzhead
God dammit - GOD SHNAZZIT

also can be used as any random interjection without being able to be yelled at for swearing.

"What the shnazz?"
"Oh god, i just stepped in the giant pile of dog shnazz"
by Nathan Von Metalhead January 27, 2006
 
1.
describes anything awesome, or can be used in place of gravy in certain situations.
"thats so shnazz" said susan.

"its all shnazz" said paul.
by tella August 08, 2007
 
2.
Another word for shit
That shnazz was soo fucking lame, I can't believe we even showed up

shnazz all over my face (may not make sense, but sounds good)
by BriiBrii June 10, 2008
 
4.
Joint, sometimes referred to as a Marijuana Cigarette. Totally illegal in the USA but in Canada everyone smokes it, no-one really gives a shit.
Grab that sac of weed and roll up a shnazz!
by deevster January 13, 2008