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1.
To defecate or urinate.
"OOOOh girl, my belly rumblin'. I think I got to use it."
by Gnine May 26, 2008
 
2.
A phrase that a homo-school started saying to piss people off and has no direct meaning.
Because of it's uselessness other people get frustrated.

Many Austin area high school tennis teams say this.
after scoring a big point (e.g., a touchdown) students scream out "USE-IT"
by stickytape October 08, 2007