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In Australian usage-

That band couldn't carry a tune in a wheelbarrow. That was a rat shit gig.
by rekco January 25, 2011
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When something is bad or you dont like it.
"Oh you cant come to my house" Said my mate
"Oh Ratshit!" I said
by MJahy December 23, 2007
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Stuff that happens that isn't/shouldn't be that big of a deal.
Guy 1: "Ugh, I'm so pissed that my appointment got rescheduled!! I was supposed to go to the doctor tomorrow."

Guy 2: "That's rat shit, calm down."
by Kelly326 May 16, 2009
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