It can mean either

1. The process of sprinkling Tobacco over weed in a joint while rolling it.

2. Telling someone to relax, just like they quite possibly could after smoking a joint
1. Brett: One sec I just need to Sprinkle Da Sprinkle and we'll be done.

2. Bunny: What's up with you man? Sprinkle Da Sprinkle.
by Bunny420. May 11, 2009
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