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1.
It simply means SHIT: feeling like shit, looking like shit, smelling like shit, and tasting like shit.
In the movie Goonies, Chunk said "you smell like fizzat!"
by younoknowme November 24, 2012
 
2.
Gettho way of saying Fat NOT phat. Normally spoken by someone of the darker community who consistantly insists on using uncomprehensible vocabulary. Ex: Snoop Dog
Snoop Dog: Snibbidy dibbidy y'all yo mamas so fizzat she beez fi ta the z ta da zat fo sho she cant beez gettin tru da do with y'all word up ma dawg yo!
by gattsu April 16, 2007