Has two definitions.
1. Used to describe the act of hanging out with friends.
2. Synonym to the word "Carpe Diem" meaning seize the day.
Joey: Yo dude we scompin' tonight?
Zach: Yea man meet me at the mall in an hour.
Dylan: Man, I have been feeling like shit lately.
Joe: Dude, you gotta get out there and scomp.