Merton McSnurtle, was an ordinary turtle from Earth-C who became subject of a bet between Prince Highness, the governor of all things good, and Prince Lowness, the overseer of all things evil. To decide an argument about human corruptibility, the Princes bestowed superpowers on McSnurtle. Since McSnurtle was too lazy to give in to temptation, Prince Highness won the bet. As the "Terrific Whatzit", McSnurtle became Earth-C's version of the Golden Age Flash.
The Terrific Whatzit was created by Martin Naydel, one of the earliest Flash, artists, TW was an in-house parody of the The Flash.
An update version of Terrific Whatzit appears in Capstone Kids line of of chapter books staring the DC Super-Pets he is referred to as Whatzit.