Let $κ\in \mathbb{N}_+^\ell$ satisfy $κ_1 + \dots + κ_\ell = n$ and let $\mathcal{U}_κ$ denote the "multislice" of all strings $u$ in $[\ell]^n$ having exactly $κ_i$ coordinates equal to $i$, for all $i \in [\ell]$. Consider the Markov chain on $\mathcal{U}_κ$, where a step is a random transposition of two coordinates of $u$. We show that the log-Sobolev constant $ρ_κ$ for the chain satisfies $$(ρ_κ)^{-1} \leq n \sum_{i=1}^{\ell} \tfrac{1}{2} \log_2(4n/κ_i),$$ which is sharp up to constants whenever $\ell$ is constant. From this, we derive some consequences for small-set expansion and isoperimetry in the multislice, including a KKL Theorem, a Kruskal--Katona Theorem for the multislice, a Friedgut Junta Theorem, and a Nisan--Szegedy Theorem.