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1.
The art of telling another person off, belittling them or calling their momma fat, while in the heat of competition.
Man, your mamma so fat she got her own zip code!

You can't play madden dawg cause you broke ass and your plays are weak!

Senator Obama was talking smack about President Bush.
by Spada March 26, 2005
 
2.
A variety of threatening language, often used as an implied precursor to physical violence.
"If my brother dated my ex-girlfriend, I'd rub his ass out"

"Oh, believe me, as soon as I'm alone with my brother, there will be some serious ass-rubbing"

"Dude, you shouldn't try smack talk."
by Odiumjunkie March 01, 2005