1. Something either exceptionally good or exceptionally bad.
2. A variation of the word "shit".
1. "That movie was the shiznits!"
2. "You don't know shiznits; now go get me a damn beer!"
by Blah May 12, 2003
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adj. 1) the best; 2) the greatest, in a certain category or universally; 3) gaddam' phenomenal, bi-atch!
Master says, "I'm the shiznit! Hell'z yeah!"
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A very discreet way of saying shit.

Sometimes is mistaken for away of saying something is cools.
Todd: Hey we have a test today.

Bob: Oh freakin shiznits!!

Todd: ? I guess you studied...?
by Murielle May 6, 2009
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A unit of shiz
S: Yo, how much useless shiz you got lying around here?
V: About 10 shiznits
S: Cool
by Mr.Shiznit June 18, 2012
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when something is so cool. or off tha chain. Another word for shit. Made popular by Snoop Dogg.
Nigga1: "Yo you like ma rhymes?"

Nigga2: "Damn fool, yo lines is da shiznit!"
by eastside4life June 27, 2006
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