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Short for the Persian term 'shehzaib' meaning prince of beauty.

People these days use it to describe something insanely cool that just happened, or something that only a really cool guy could accomplish.
"Damn, that's shehzi status right there!

or

"Dang, only a real shehzi could do something that cool!"
by Gabe Utsecks August 28, 2009
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