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To smoke weed/cannabis/a blunt/a zoot/a spliff etc.
Druggy McDrug:'Hey, lets puff the magic dragon and get high'

Wee Dyman:'Is it beef??!!!'

*Druggy McDrug caps Wee*
by E! May 24, 2005
the art of smoking cannaibas
last night I puffed the magic dragon
by baxter October 29, 2003
People that smoke the magic dragon, smoke reefers, blunts marijuana, pot, and so on.
"Coilliepik got caught smoking the magic dragon and sippin' on a 40 in his lowrider".
by DizizEgyptiancottonmothafok March 06, 2010