Euphemism for "shit". Often used when in the middle of "shit" when you remember you shouldn't cuss in front of children.
"Oh shi...znit i forgot i was supposed to pay the phone bill!"

"Mommy, what does shiznit mean?"
by ocdbludsuker January 24, 2010
It is a statement regarding poopy. It refers to excrement and the human predication to refer to slang words in the negative of their meaning. Shit is good, and to be shit in the slang world is a good thing and to be 'shiznit' or 'the shiznit' would elevate you in the heirarchy of your 'homies' or 'nizzles'. Often used in rap videos, or by causcasian youths trying to fabricate the experience of being an african american. Also, in slang -'Honky wiggers perpetrating like a mug' In this case, acting in this way would not be the 'shiznit'

See also - Malibu's Most Wanted; Snoop Dogg; Any white guy in Philly, NYC, and Little Rock as see on HBO.
My friend, you have done something that resembles the qualities of fecal matter. Excrement my fellow man, you are waste byproduct from human waste. Or..You mofucka, dats da shiznit. Shiznit bro you da shiznit. Word.
by Dr. Drew Rigler August 04, 2004
when something is extremely damn cool.
my new skirt is the shiznit!
by hmarky January 12, 2004
someone or something that is just awesome, beyond words... just 'the shiznit'.
Roger: Courtney, you da shiznit!
Courtney: No, no, Roger... YOU da shiznit!
by Courtney April 30, 2003
an alternative swear word
SHIZNIT! i forgot my electronic pencil sharpener.
by lexkills November 02, 2010
A slang word used in substitution of "shit",
Most cases if you are "The shiznits" then they are saying you are "The shit",
"Oh P-Diggity-Dog Those dance moves make you the shiznits!"
~ Example from a club
by DJMazzyG June 08, 2010
1. The most popular guy in the room.
2. Urban legend, one that has achieved iconic status.
That guy is the total shiznit. He had everybody rolling.
by theystaythesameage February 05, 2010

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