A way of giving your thanks, gratitude, and affection when someone does something that worth making you say thanks for. It can be used at any given time, place, situation, and setting. It could also mean to spank someone, whether they've been bad, or naughty bad.... mmmmmm. It could also be used in a gangsta form, sphanksta. It's for douche bags who's too sphanksta to say gangsta.
Hey Daisy, sphanks for the blowjob the other day, I really needed that.
Wahhh i dont wanna get sphanked, it hurts like a mo' fucker'
Ohh yea baby sphank me harder harder, YES.
Jim: Yo ma nigga Joey, whachu be doin' up this late at night?
Corey: Why is he talking like that?
Joey: I don't know, I think he thinks he too spanksta, when he's just a rich white-boy douche bag that lives in Brooklyn.