Something someone would say after realizing what they just said or did was idiotic or bad.
"Dude, my dick is so big that if I laid it out on a keyboard, it would go from A to Z.

Wait, shit."
by Unconcious July 28, 2009
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What people said after realizing that Obama was the new president.
Yea! Mccain lost! Obama won! wooo hoooo!.....Wait, shit
by HornyFirecracker August 2, 2009
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You have just had an argument, or told a lie, and its very close to coming back to haunt you. This is the moment when you want to reply, but realise its too late.

This phrase can often follow:
*A stammering of non-linked words
*An "Oh no I mean"
*A deep breath
*It can also be said as the person is allready leaving/gone.
"Does my butt look big in this?"

"Your butt always looks big... oh no I mean, wait, shit."
by fleshandblood August 7, 2009
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