schmagma Share definition Flag a pungent, pasty, and gooey substance that forms in the foreskin of a penis. After three days of extraneous activity and no shower my dick formed a very unpleasant type of schmagma. schmagma by bac bac bac January 30, 2010 0 0 Get merch Get the schmagma mug. Buy Now — $32.95 See more merch