some may say this word means the shit. however, that was the 80's. my band means it as cool, or awesome. shiznit is a stupid mispronunciation of this word and anyone who says it should be condemned to a life of misery.
person #1: wow! that's the shiznat!
person #2: yeah that is the shiznit!
person #1: it's shizNAT u idiot!
*person #2 is condemned to a life of missery
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