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Obitsu is, in reality, a type of ball-jointed doll (BJD) by the company Parabox. They are usually sold as individual parts. These parts can be used to make a doll, or, more commonly, are used to replace doll parts on existing collector dolls (either as customization or for repair).

In a more slang sense, the word is often used as a verb. To "obitsu" a doll is to replace one or more of the body parts of an existing company-made doll with Obitsu items.
"I don't like the joints on my new BJD doll, so I'm gonna obitsu it."
Obitsu by StarryMountain December 17, 2011
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A Japanese ball-jointed doll made out of vinyl.

A lot of BJD-fans buy them as a substitute of those beautiful resin dolls when they don't have the will to work to afford one; and Obitsu-dolls are often frowned upon in the BJD-community.
"I've been waiting soooo long for my Doll-Zone Yue to get home, and guess what was waiting me when I got home from work yesterday? The package!"
"Ohh, cool, he's pretty. I got an Obitsu, we should totally do a photoshoot together!"
"... Obitsu '>_>"
obitsu by resinsoul November 1, 2009

Obitutainment 

The resulting news coverage after the death of a celebrity.
Man, the obitutainment industry must be making SO much money after the death of Michael Jackson!
Obitutainment by Willobeen July 13, 2009

onitsuka 

Kihachiro Onitsuka was a Japanese soldier who after WWII decided that sports would be good for Japanese youth. He therefore learned how to make shoes circa 1949. He then founded Onitsuka Co Ltd. In 1958 he bought the "Tiger" brand. In 1972 they merged with another company called Jelenk and then they decided they needed a new name. So,they found an old latin phrase that said, "Anima Sana In Corpore Sano"; which means, "A soundmind in a sound body". By taking the first letters of each word in the latin phrase you get ASICS, which is the name of the shoe brand.

Now a days Onitsuka's are used alot by the "scene" or "scenester" subcultures, specifically those consisting of indie and hipster styles.
Man 1: Dude, look at that guy with the onistuka's, that's so hardcore!
Man 2: Scene! Onitsuka's are sooo expensive...
onitsuka by SceneQueen December 23, 2005

Walking Obituary

People who come into a bar for the sole reason that have nowhere else to go and are basically waiting to die. Ususally these people have no lives, jobs or friends and rely people who are not aware of what social leeches they are and accidentally engage them in conversation.
New guy just sat down next to that walking obituary who is actually knitting at the end of the bar and won't shut up about her 12 dead husbands and having to put her cat down.
Walking Obituary by ZDogg77 January 24, 2011

Obituary Tourist 

A person that scans the obituaries and uses the information to peek at personal information about the deceased on social networking sites.
Today in the obituaries, James Smith passed away suddenly in a motorcycle accident.

Type James Smith in Face Book search and find that James Smith and you are officially an Obituary Tourist.

Obatsunami 

As massive tsunami caused whenever babooy jumps into a body of water.
Babooy jumped into the pool yesterday and caused on obatsunami
Obatsunami by Gmoney0817 January 1, 2019