Fish Bait 

Crack cocaine. As seen on "King of the Hill"

Hank Hill got arrested buying crack with the intention of using it as fish bait

Fish Bait by A.C. Sativa October 9, 2012

Fish Bait 

Jail bait located at an aquarium.

"Steve don't touch that it's fish bait!"

Fish Bait by yourwelcome1088 December 21, 2009

fish or cut bait 

To come to a decision point: either commit to what you're doing, or give it up entirely.

There is some debate as to whether the expression refers to cutting up bait, or cutting loose live bait.

See also shit or get off the pot

Steve has been dating Marva almost six years, and his parents think it's time for him to fish or cut bait.

fish or cut bait by Iago October 15, 2004

fishbait 

1) An african american or dark skinned people that are very scarce in a mostly white dominated area that is either surrounded by water or very near water where fishing is a very popular.

There aren't very many blacks in Cape Cod because when the locals see them they catch them and use them for fishbait.

or
I saw a bunch of fishbait playing basketball and drinking malt liquor down at the park earlier today.

nigger niglet

fishbait by Jojo the Indian Circus Boi September 28, 2009

Fishbait 

Usually a term given to Freshmen, or any person under the age of 15. This term is usually given by an older person, around the age of 18, who has kissed or used their "fishbait."

Additionally, if you are the fishbait, you may be invited to parties with that 18-year-older and be able to partake in comsumption of any drugs or alcohol and the like.

Woah, happy birthday. You're 15. Congradulations- you aren't fishbait anymore!

Fishbait by KyleBroflovski December 20, 2010