The word "IWIT" is an obsolete English term meaning "to know" or "to wit". The spelling of this word is represented in IPA phonetics as /aɪwɪt/. The "I" represents a long "I" sound, while "W" represents a "w" sound. The second "I" represents a short "I" sound and the "T" represents a "t" sound. Although "IWIT" is not commonly used in modern English, it remains an interesting relic from the past with a unique spelling and pronunciation.