Green’s Dictionary of Slang

1. splendid, great; often in ironic use.

1963		AS XXXVIII:3 174: To describe something in the most superlative tones and language is to call it [...] hot shit.
1968		A. Moody Coming of Age Mississippi 220: All teachers start off pretending they are hot shit.
1976		P. Theroux Family Arsenal 47: Now there’s a word that’s really hot shit. Where’d you pick that up?
1977		(con. 1969) M. Herr Dispatches 219: I could let you go on thinking that [...] we were like some incomparable commando team, some hot-shit squadron.
1981		H. Gould Fort Apache, The Bronx 58: You’re really proud of yourself, ain’t you? [...] You really think you’re hot shit now.
1991		B. Hamper Rivethead (1992) 12: You think you’re hot shit, don’t you, son?
1998		(con. 1960s) G. Washington Blood Brothers 47: She was hot shit man, I would have bought some of this bitch’s pussy if I hadn’t been working.
1999		T. Dorsey Florida Roadkill 249: You think you’re hot shit.
2001		J. Stahl Plainclothes Naked (2002) 250: Manny Ubert had a rep as some hot-shit interrogator.
2002		(con. WWII) R. Mooney Father of the Man Prologue: ‘Smartass,’ said Lopez. ‘Thinks he’s hot shit,’ said Stewart.
2019		N. Walker Cherry 52: We made a big deal out of the drinking, the way you will when you’re young [...] we thought we were hot shit.

2. in ext. use, offensively self-conceited, arrogant.

1971		T. Thackrey Thief 379: It might have been frothy-mouth. You know, the hot-shit parole officer?
1972		L. Bangs in Psychotic Reactions (1988) 115: It’s a very nice record. It’s easier to listen to than lots of these hotshit Rock And Roll albums like the new Black Sabbath.
1976		P. Theroux Family Arsenal 148: You can tell Brodie she’s got some pretty hot-shit friends.