When you are seeing yourself in the mirror, you turn around to your friend and ask him/her, if your clothes suits to Friday night. So your friend says "Fancy that shit!" you're right.
In another way, you use "Fancy that shit" when you describe your enthusiasm for a madness of a daredevil.
When you are in front of your mirror at home and you will go out tonight, you'will check your clothes. When you ask your best friend or your pet, if your look is the right for the party and he/she/it answered "fancy that shit", you have combined a creative "dress for success".
In another way, "fancythatshit" means a daredevil expression of yourself or something or someone for new values of the 21th century. So you would like to show your respect for the action you'd seen.
No humanism. No conservativism. But recklessness. Without fear or favour.
"How I looklike?" -"Fancythatshit!"
"Wow, fancy that action of this daredevil!"
another term for a station wagon, mini-van, or any other kind of vehicle that is targeted at the "family" demographic(also M.A.V.)
"Tactical advantages aside, the M.A.V. is top of the line for the holy warrior troop transport manufactured by the Church of Latter Day Saints Military Industrial Complex. Also great for family trips...to heathen lands."
12 step recovery jargon referring to someone new who talks about how great life is, now that they'resober. Usually meaning that the person is out of touch with reality.
The new guy seems pretty happy for a dude who has no job, no money and no family. He must be on a pink cloud.