any form of rolled smokeable or cigarette that is so sublimely "packed" as to allow an (easily foldable) excess of paper at the tip. Once this tip is folded once inward, a batman-like hat is apparent.
Friend #1: Dude, I'm pretty stressed. Can I bum a smoke?
Friend #2: My man, not only can you have a smoke... I bequeath unto thee a batsmoke !! folds the tip as mentioned and hands his friend the righteous smokeable.