Smegma comes from the greek word for "soap" (which had about the same consistency in these days) and describes the residues of the sebaceous glands, dead skin tissue, urine and sperm, which form a white to lightyellow substance under the male foreskin. kinda like cottage cheese.
huhuh... hey like... wot's the name of that cheesy stuff i got around my bellend all the time?
uh... uuuh... that would be like... SEGMA! huh-huh-huh.