Shizatch
Noun. A term with a variety of context-dependent connotations.

1. (negative connotation) Something worthless, trivial, or otherwise inferior.
2. (neutral connotation) A synonym for "thing" or "stuff." 
3. (positive connotation) Used in a similar context as "ownage."

Etymology: Shizatch is the amalgam of "shit" and "bizatch," which is a corruption of "biatch," which is a corruption of "bitch."
1. Samurai, upon spotting a group of ninja: "Let's waste that ninja shizatch."

2. "What is Mortal Kombat about?"
"Oh, it's just some ninja shizatch."

(While pointing at a shuriken) "Could you pass me that shizatch over there?"

3. "It's shizatch time!"

"That samurai took out all those sword-wielding ninja with his bare hands. That was some serious shizatch."