Used after witnessing or being apart of a lifechanging event, such as a bad fight with a significant other or a car crash. Similar in meaning to "wow, that went badly," or "I wouldn't have wanted to be apart of that."
Someone: *Crashes their expensive new tour bus*
Same person: Crash, bang, smoke...

Someone: The bae and I fought... crash, bang, smoke.
by mxscream February 5, 2016
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