An award given to someone for creating something or doing something that is considered, well, a piece of shit!
Me: Look at this cool picture I drew!
John: It looks like it's worthy of a Nobel Piece of Shit Prize!
Me: What do you mean?
John: Well obviously it's a piece of shit picture. It looks like a box with wheels and WTF is up with the window pane?
Me: You fucking whore, it's a car. You don't have to make fun of my lack of artistic ability.
John: Who in the fucking fuck draws a car with a window pane? You're a dumbass!
Me: Well I do. Do you have a problem with it?
John: Well yes I do.
Me: Go fuck yourself John! You deserve a Nobel Piece of Shit Prize for being the biggest piece of shit person to ever exist!
John: Okay that may be true, but Creed is more worthy of a Nobel Piece of Shit Prize than me.
Me: That is so true! Creed is the biggest piece of shit band EVER!!!!!!!!!
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