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1.
Shmip is another word for marijuana. It can be used as a verb or a noun.
Do you have any shmip?

Let's shmip... or... have you been shmipping?

We were shmipped.

He was all shmipped up.
von squashy 26. April 2009
 
2.
shmips is slang for a mixture of cocaine and marijuana wrapped in paper, it originated in Brooklyn and it is smoked.
Man 1: did you see what that guy was smokin'?

Man 2: shmips, that's some serious shit!
von krefs 2. Juni 2011
 
3.
Shmips is a slang word of saying a mixture of marijuana and cocaine wrapped in paper, this mixture originated in Brooklyn NY,
Man1:hey did you see that guy smoking shmips?

Man2: yeah, where'd he get that shit?
von JefferyLake 2. Juni 2011
 
4.
Shmip is another word for shit.
made up for the pure fact of confusing people who dont know what it means and to use around children.
India: Yo Jessie,
how's you're little shmip of a brother?
Jessie:Being a little shmip, like usual.
von inunii 13. November 2007