This is cod latin and is usually written 'iti sapis potanda bigone' or 'iti sapis potanda tinone'.
It is usually found inscribed on the side of containers, usually chamber pots. If you read it literally you find it is written in English. By changing the spacing of the words you get 'it is a piss pot, and a big one' or 'tin one' if the pot is made of tin.
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