A new fad that's catching on by upper middle class white kids who think their the shit by doing something bad. Basically what they do is buy a container of cool whip and shit in it. Then they shake it up and get it all mixed up in there, put on somebodys door step, ring the doorbell, and run. They can't even think of a clever name. They tried combining cool whip and poop.
When a person, usually but not limited to a female, is ratchet but not in a way that makes him/her undesirable. The ratchetness adds to his/her charm and makes him/her more adorable.
Better than just "cool". So cool, in fact, that the extension "shit" needs to be used to show the difference between said awesomeness and normal "cool".