I'm called lil bit, because that's what I was Christened. Not really. I was known as the lil bit, because I was the youngest in a large extended family for about two years and the name stuck. I grew to be 5'7" in my socks and tower over my small cousins, yet they still call me lil bit, which incidentally is pronounced little bit, only with glottal stops where the t's are, because I'm a cockney sparrer.
So now you know.