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Despite the fact that this word is used in Dude Where's My Car, it was CA slang looooooong before this movie ever became a reality, and it was used incorrectly in that context. It's simply a substitute for the overly-used "cool" or "awesome". It really didn't mean wasted until the writers of that cinematic waste of time decided to fuck it up. (Just a note)
This car is shibby! (Spoken of a hot little red convertible)
by LaDLaz June 27, 2005
219 205
To get high
Now people usually use it as saying cool or tight
Lets shibby
That shits shibby
by emily May 31, 2004
6 7
Meaning cool, awesome, or in agreement.
from dude where's my car:Jesse and Chester are shibby at the moment please leave your shibby at the beep, shibby! (beep)
by lazyassloser March 26, 2004
7 8
A punk rock band from England -

Also a word used for totla awesomeness
Shibby are so Shibby

Thats f**king Shibby dude
by Sean from the band Shibby January 04, 2004
5 6
shelbys nickname
man shibbys got some big ass titties!
by shelby and julie December 13, 2003
6 7
awesome! killer! kick ass! anything word... like da kine.
shibby sweet! swim now, shibby later!
by ilovetoswim October 18, 2003
2 3
to get naked
used in the movie American Pie
by cardinal October 17, 2003
4 5
that is so shibby
by Martin September 30, 2003
4 5