Any black person who likes rap music (especially gangsta rap) and/or is part of the black gang youth culture.
It's a pun that utilizes the fact that shizzle can mean "shit" as well as "sure". So while to some "shizzle nizzle" describes somebody who says "for shizzle my nizzle", it actually means "that fuckin idiot of a shit nigger".
Erwin is a fuckin shizzle nizzle.
by bumarse October 25, 2009
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A variation of the the Shiznit, to mean something is the goddam best of the best, when shiznit just wont do.
ie:
Mik: I met this great girl, she is the shiznit, no wait, she is the ultimate shizzle with the nizzle!
by Lucy-doots October 16, 2003
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Masturbatory term.

See also:
stroking the sausage
slapping the meat
petting the weasel
spanking the monkey
flogging the dolphin
tickling the pickle
whacking the mole
playing the skin flute
cream-filling the donut
"I can't stand to see him shizzling the nizzle."
by Dean March 25, 2005
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for rizzal, my izzle shizzle nizzle etc.

certain groups or gangs that can't speak english properly, so they have to make up they're own words in there place you they can say them w/ out screwin up.
for sure my awesome friend nigga
becomes
fo shizzle my izzle nizzle
by incherz October 19, 2004
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