Founded in the film "Dude wheres my car" and is also a name of a company, shibbyindustries.com.
Shibby can also be a word that is moulded to your own approval in appropriate situations.
From this quote, we can see 'shibby' means, quite literally, wasted.
DEFINITION ONE - Shibbying = partying
Shibby = wasted
Shibby = cool, great etc.
Shibby is also a term for attractiveness, and as a rating.
Eg - "Shibby!"
"Not shibby... :( "
If someone is hot, they are shibby
(2) A noun meaning something cool
(3) An interjection used in the presence of something cool
1b. Jesse and Chester are shibby at the moment.
2. Leave your shibby at the beep.
3. Shibby! I found some jelly beans!