stands for "yuppie-in-training." like their elders, yits often have their preferred (and infinitely long) starbucks orders memorized, drive expensive cars and always have the latest ipod, laptop, and cell phone models. unlike full-grown yuppies, however, yits don't yet have high-paying partner positions--instead, they are attending high-cost universities and living off their yuppie parents.
"man let's get out of this coffee house, this place is crawling with yits."
"that kid in my econ class is such a yit!"
"take off that tie, you look like a total yit."