Shaq Settles TCU-Georgia Bet With Ernie Johnson, Eats Frog Legs Live On-Air!

Shaquille O'Neal's clearly a man of his word ... 'cause after he bet he'd eat a frog if TCU lost to Georgia in the national championship -- he settled his debt live on television on Thursday night!!!

Shaq initially made the wager with his "NBA On TNT" co-host Ernie Johnson last week ... saying if UGA managed to pull out the victory over the Horned Frogs on Monday, he'd scarf down a plate of toad.

The Dawgs ended up smacking TCU 65-7 ... and when it came time to pay up on the bet on Thursday's show, Shaq didn't shy away.

Ernie brought out a plate of what appeared to be multiple fried frog legs, and the NBA legend stuffed his mouth with them one by one as a nation of basketball fans looked on.

Shaq took bite after bite after bite -- while Ernie gloated with a Georgia helmet strapped to his head.

"I'm a man of my word," O'Neal said as he chomped away on the dish. "I'm a man of my word, Ernie."

Shaq had some fun with the guys on the set while finishing off the legs -- sticking a piece of the meal in his teeth while adding, "I just want to let ya'll know these frog legs are good!"