Euphemism for "shit". Often used when in the middle of "shit" when you remember you shouldn't cuss in front of children.
"Oh shi...znit i forgot i was supposed to pay the phone bill!"

"Mommy, what does shiznit mean?"
by ocdbludsuker January 25, 2010
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a word thats used by an eleven year old who isnt allowed to say shit and is just trying to be straight up funny but seriously isnt
girl: i’m going to disney tomorrow!
annoying girl: oh shiznit! i forgot!
by shiznit kid November 2, 2019
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amy is the shiznit, in our school.
adjective 2:
amy is the shiznitest person in the world.
by mike March 12, 2005
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In reality, the word shiznit has absolutely nothing to do with shit; this is a common misconception.

In reality, shiznit, is the contracted form of "She's neat!"
Snap! Look at that fly hoe! Shiznit!
Translation: Darn! Look at that attractive girl! She's neat!
by Humpty Dizzle March 2, 2005
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when something is extremely damn cool.
by hmarky January 13, 2004
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It is a statement regarding poopy. It refers to excrement and the human predication to refer to slang words in the negative of their meaning. Shit is good, and to be shit in the slang world is a good thing and to be 'shiznit' or 'the shiznit' would elevate you in the heirarchy of your 'homies' or 'nizzles'. Often used in rap videos, or by causcasian youths trying to fabricate the experience of being an african american. Also, in slang -'Honky wiggers perpetrating like a mug' In this case, acting in this way would not be the 'shiznit'

See also - Malibu's Most Wanted; Snoop Dogg; Any white guy in Philly, NYC, and Little Rock as see on HBO.
My friend, you have done something that resembles the qualities of fecal matter. Excrement my fellow man, you are waste byproduct from human waste. Or..You mofucka, dats da shiznit. Shiznit bro you da shiznit. Word.
by Dr. Drew Rigler August 5, 2004
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