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1.
a bull's penis and/or that nasty flap/foreskin as seen on Professional Bull Rider programs.
"I wish you would stop saying 'bull pizzle'"
by Joe Bone March 11, 2005
 
2.
a cool way of saying somethings shit, when all those other words just wont do.
So what did you think of it?

Oh, it was just complete bull pizzle. Total shit.

I'd have to agree with you there.
by Boo Radley December 07, 2004