When someone offers you food, this is the response to indicate, "fuck yeah I'd like some, but only if you're not planning on eating it."
Also can be used as a request, as in, "Shibby on those nachos!"
"Hey dude, you want some nachos?"
"Shibby!"
"Sweet because I can't eat any more."
or
"Shibby on those cupcakes?"
"Yeah man, help yourself"
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