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1.
The act of releasing smoke in the open air for the purpose of providing passersby a generous waft of something that will lighten their day.
The act of a "Community Hit" can be just excess smoke off a blunt or joint, intentionally blowing un-hit smoke out of a piece, or simply setting fire to marijuana. The most common use of this terminology is when someone has prepared too great of a hit, and they decide to blow out the smoke.

This is also a common practice of law enforcement. When they "dispose" of large quantities of weed, they simply burn it like a campfire and host a party around said campfire.
by JR N September 14, 2013