1530s, "to break wind without noise," probably altered from obsolete fist, from M.E. fisten "break wind" (see feisty). Related: Fizzled; fizzling. Noun sense of "failure, fiasco" is from 1846, originally U.S. college slang for "failure in an exam."
To fail; lose effect; flop, peter out: I bail out of all my commitments and things fizzle
[1840s+ College students; fr the lackluster sibilance of a damp firecracker]
The Dictionary of American Slang, Fourth Edition by Barbara Ann Kipfer, PhD. and Robert L. Chapman, Ph.D. Copyright (C) 2007 by HarperCollins Publishers. Cite This Source
Idioms and Phrases with fizzle out
Fail, end weakly, especially after a hopeful beginning. For example, The enthusiasm for reform has fizzled out in this state. The word fizzle dates from the early 1500s and meant “to break wind without making noise.” Later it was applied to hissing noises, such as those made by wet fireworks, and then to any endeavor that ends in disappointment.
[ ; mid-1800s