A variation of "shnizzle" which originated from "Shizzle" which comes from "Shit." Also, could mean something is cool, awesome, pleasurable, or pleasing to someone else.
"I just stepped in dog shlizzle." OR "Yo man, this girl's poo-nanner is the SHLIZZLE MY NIZZLE BIZZLE FO RIZZLE BUT KEEPIZZLE ITIZZLE ON THE DOWNLIZZLE."
by Joker X November 15, 2003