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Shibby is a word that can be used in many different surcomstances. But the "proper" meaning of the word is Cool or Awesome.

But most people use the word Shibby in other meanings, like "wasted" or "horny".. So you could say that Shibby's "Modern" definition is: A positive word used when you want to say something good about.. something.
Uncle Tom: "You look shibby"
Little Sally: "Thank you.. you're shibby"
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Awesome, Off The Hook, greeting something used alot between our friend-group.
Ussually spoken, with the shaking rock sign.
Jenni: "You Ciara, like the dress?"
Ciara: "It's Shibby!!"
Sofie and Katie (Chorus): "Shibby!!!!!"
Shibby by JenandCiara January 18, 2007
bitchin. radical. kewl. goober's way of saying "neat-o".
kyle: yo yo, i saw your mom makin out with chase this morning.
brent aka goober: shibby.
shibby by kyle motha fuckin mobly February 18, 2003
a very rich fag that posses around with his money, pretends to get chicks, although he loves the cock and the women the money
yves is a shibbby

u shibby boy
shibby by heuil March 3, 2004
An expression used to describe a helpful and/or pleasant occurence.
I finally fucked her!! I'm no longer a pussy!!
Some guy walking by: Shibby!
Shibby by Nytehauq August 21, 2003
"i went to toms and scored some shibby"
"my man steve peddles alot of shibby"
shibby by andrew nuhfer June 9, 2004
a small asian christmas present; literal translation is "little shin-kicker". sometimes used to describe an instigator or very influential person.
shibby just kicked me in the shins!;
hey shibby, what's your real name?;
yo, that girl whose name sounds like chicago totally just shibbied me into driving halfway across the country with her.
shibby by msm.com January 13, 2005