Pronounced-"Criiip Shiiit" An expression used after doing something funny, stupid, Cool, or illegal and getting away with it.
Examples of Crip Shit:

Driving drunk busting a bitch across 5 lanes while yelling "Criiip Shiiit"

Just finished doing a keg stand "Criiip Shiiit"

Passing gas while standing in the check out line "Criiip Shiiit"

Hittin 3-wheel motion in a 64' Impala "Criiip Shiiit"
by Ninja Ren May 26, 2011
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When the force of of shit is so violent it forces you to hold on to the disabled handles next to the toilet
"Honey, can i have the disabled toilet? I feel a crip-shit coming on"
by Simondo November 6, 2005
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