a word used to describe something that is very good. i personally usually use it to describe really good food or really good weed.
"you should come over, i just bought some fire dank."
(...half an hour later)
"man...some fuckin...mexican food would be so fire right now"
a metal one hitter
that is painted to look like a cigarette.
"dude, there's nowhere to cheef around here"
"it's cool man, i got the secret agent. you can toke it up walkin down the street!"