Wiktionary
the shit
n. (context vulgar colloquial slang English) Something considered to be excellent or the best of its kind.
Wikipedia
The Shit (album)
The Shit is an unreleased studio album by Hip hop duo, 2nd II None originally set for release in 1994 on Death Row Records but was shelved and later leaked in 2008. The album is executive produced by Suge Knight and produced by DJ Quik.