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1.
derived from the movie "dude, where's my car". used as a synonym to "cool" or "awesome"
dude #1: I got the new ax7 cd yesterday.
dude #2: shibi!
by igotatattoo March 25, 2005
 
2.
A word coined by the LCCM Psychology society AY 2011-2012 in order to describe female lesbians or lipstick lesbians and soft butches (boyish female who like girls but don't entirely dress up as boys)
Portia De Rossi is a fem personality but she is in a relationship with a girl, therefore she is a SHIBI.
by Shibipops February 23, 2013