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1.
Pants that are to full of holes, to be considered full pants
Kandy wears her schmants and they are dirty schmants.
von demon816 17. November 2010
 
2.
v, schmant: to schmant means to eat an entire animal, such as a hippo, in a short amount of time (mostly practised in unhumane parts of Africa and Alabama)

n, schmant: someone who schmants
I can't believe that guy just schmanted that entire buffalo in two minutes!
von haNd1287 21. April 2004