Green’s Dictionary of Slang

1. (also hot shite) something important, vibrant, exciting, fashionable etc.

1960, 1975		Wentworth & Flexner DAS.
1989		H. Rawson Dict. of Invective (1991) 352: hot shit. Hot shot, hot stuff; often ironic, comparable to hot dog. Also an exclamation of amazement and appreciation.
1998		A. Warner Sopranos 116: Hot shite. Fucking mental.
2005		B. Coleman Rakim Told Me 64: ‘When you hear some hot shit, like what Kane and G Rap was doing back then, you can’t wait to go home and try to top it’.

2. an important person or someone who thinks they are.

1964		H.S. Thompson letter 9 April in Proud Highway (1997) 451: My best to the other hot shits.
1978		J. Webb Fields of Fire (1980) 228: We had a lot of hot shits on the parade ground, and a lot of motivated sons of bitches.
2008		R. Price Lush Life 196: Ther big deal, Mister Hot Shit Harry Steele, is that I was here before you opened the restaurant. I was here first.
2012		B.V. Lawson ‘Shawdow Man’ in C. Rhatigan and N. Bird (eds) Pulp Ink 2 [ebook] Badass dudes who think they’re the hottest shit since God himself took a crap.
2020		(con. 1991-94) W. Boyle City of Margins 12: ‘You think yuo’re hot shit. You think you’re [Sly] Stallone’.