The Collaborative International Dictionary of English v.0.48:

fizz \fizz\ (f[i^]z), v. i. [imp. & p. p. fizzed (f[i^]zd); p.
   pr. & vb. n. fizzing.] [Cf. Icel. f[imac]sa to break wind,
   Dan. fise to foist, fizzle, OSw. fisa, G. fisten, feisten.
   Cf. Foist.]
   To make a hissing sound, such as that of a burning fuse or a
   bubbling carbonated beverage.
   [1913 Webster +PJC]