This is an alternate word for an Aussie or Australian.
To be used in the same way as POM, can be derogatory or a term of endearment.
Smeg or Smegs for plural , this word can be used on an everyday basis at home or work or pleasure, in the same way Smegs use the word POM.
"Hey I hear the Smegs came sixth in the Olympics"
"You Smegs won the cricket again"
"Pull your head in you Smeg"