(Shamelessly stolen from an imgur dump, but I felt like it belongs here)
Edit:
Since so many of you suggested additions, I'm just going to list them all in one place. Let's create a community-made enzycrapedia of shit-related terms and phrases!
Transcription of the image in case the picture disappears:
Dogshit: Very poor quality
Bullshit: Not true
Horseshit: Nonsense
Apeshit: rambunctious
Batshit: insane
Chickenshit: coward
Ratshit: poor quality
No shit: obviously (also sometimes "No shit, Sherlock!" as an exclamation)
Holy shit: mind blowing / unbelievable
Hot shit: very good
Dipshit: a total dumbass
Tuff shit: take it or leave it. (correct spelling would be "tough shit")
Jack shit: nothing
The shit: perfection
More shit:
Cut the shit: knock it off.
Are you shitting me: are you serious.
This shit is bananas: this is crazy.
That’s my shit: I really like that.
I dig that shit: I love it
Shit!: An exclamation of discontent. See also: fuck.
I shit myself: I pooped my pants.
Shit-Hawk: unpleasant person
For shits and giggles: Doing something silly for no particular reason
Shit a brick: to be scared
Scared shitless: being really scared
Shitstain: someone trashy or worthless
Shit for brains: stupid
Shit sandwich: a shitty situation
Shithead: a shitty person
Shithole: a shitty place
Piece of shit: a shitty thing
Deep shit: a meaningful revelation
To be up shit creek (without a paddle): to be in deep trouble
To be full of shit: constantly lying
Shit Stirrer: someone who deliberately causes problems/arguments
Get your shit together: to organize stuff properly (alternatively; to calm down)
Losing your shit: freaking out
To [do] the shit out of something: doing something in an excellent way
I don't give a shit: I don't care
When shit hits the fan: when an already bad situation suddenly becomes worse
Shit happens: bad things happen and you can't do anything about it
Shit just got real: Something dangerous is happening right now
Does a bear shit in the woods?: Isn't it obvious?
Eat shit: To fall on your face
Shit-eating grin: a smug and condescending expression
Who shit in your cereal?: Who ruined your day/mood?
(To watch the) Shitshow: watching utter chaos unfold without intervening
A metric shit ton: a lot
Shit on a Shingle: a dish consisting of a cream sauce with meat in it poured over toast
Nuttier than squirrel shit: being crazy
Shitstorm: a stressful, chaotic situation
You don't know shit: you're clueless
Don’t shit where you eat: Don’t date a work colleague
The shits: diarrhea
My shit: my stuff
Shitter: toilet
You are shit: you're worthless
You are not shit: reassuring that you're NOT worthless
You ain't shit: you're worse than worthless
Thanks and credit to: Poopmeister, Wogi, protist, cloudy1999, lambchop and ToRa
Why not? It's not elephant shit, that's so nutritive they steal it directly from each other's source, but aren't jacks kind of horses? Not Holy Cow shit either, but still.