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1.
The modern-day equivalent of "the bees knees". Absolutely the best. Derived from Southern California slang, by way of Snoop Dogg.
Damn, Dude, that sack you hooked me up with was the shizznit!
von Cap'n Sweaty! 9. Oktober 2003
 
2.
see kirby
You ARE the shizznit!
von Keile 7. Februar 2004