When black people don't agree with something they say this. Equivalent to saying "Shit", but with swagger and soul. The way you talk after smoking a grape blunt while sipping a 40 of Colt 45.
Tyrone: "Yo dawg, let's go up to the pawn store and sell your PS 2"
JJ: "Sheeeeeet....them honkey jews up there never give us a good deal or even a solid quarter".