Schmont is a multi-purpose word made up by a woman from South Bend, Indiana in 2004. It was originally used as a fun rhyme to the word "want" when ordering dinner, but then took on a life of its own. It can be used to reference something positively or negatively, depending on your mood. Some believe the word is actually derived from the stage name of a little known recording artist who's had multiple stints in rehab and exactly zero hit singles. Others regard it simply as a fun nickname to be used at random.
A person you care very deeply for. They may be temperamental and sometimes exhibit qualities of a retard but you have a intense longing for them none the less.