The 'B' is representative of someone being a
bag and the rest a faggot, implied the
bag being useless and empty on the inside.
'
Shat' (is past tense 'shit') is fluently composed when used with 'Baggot.'
The conjunction of the two words creates an effortless, expressive, and eloquent flow of dangerously-concocted insult to it's recipient.
Some Rison guy: Cheseley, You're a tool and an
annoying nonsense to everyone around you,
shat baggot.
Some Cheseley guy: You wanna go there? Well I'm gonna (
pathetic comeback imminent)