When you are seeing yourself in the mirror, you turn around to your friend and ask him/her, if your clothes suits to Friday night. So your friend says "Fancy that shit!" you're right.
In another way, you use "Fancy that shit" when you describe your enthusiasm for a madness of a daredevil.
When you are in front of your mirror at home and you will go out tonight, you'will check your clothes. When you ask your best friend or your pet, if your look is the right for the party and he/she/it answered "fancy that shit", you have combined a creative "dress for success".
In another way, "fancythatshit" means a daredevil expression of yourself or something or someone for new values of the 21th century. So you would like to show your respect for the action you'd seen.
No humanism. No conservativism. But recklessness. Without fear or favour.
A Shackteau is a humble, weather-beaten, structurally questionable shelter located in a spectacular or highly coveted place—Wales, Jackson Hole, Sun Valley, Crested Butte, coastal Maine, the Alps—where the building itself may be worth almost nothing, but the dirt, view, access, and mythology make it absurdly valuable.
In use:
Shackteâu - We thought it was an abandoned shed until the realtor called it a rare alpine Shackteâu with unobstructed views and listed it for $2million.