2. A way of saying "my life is fucked," "I hate my life," "The world is cruel," and "Alas, earwax."
Also, Fizzle mah Lizzle, Fo'Shizzle my Lizzle, Shizzle my Lizzle, Drizzle my Pizzle (I don't get it either).
2. As Dumbledore realized that he had again eaten an earwax-flavoured jelly bean, he exclaimed "Fizzle mah Lizzle!"