to be extremely drunk or high, but at the same time, enjoyable.
Also used as a verb to "shmack", or as an adverb as in "shmacking."
"this video shows others in their words, getting "shmacked""
"i'm obviously shmacked as hell right now"
"walt thank you very much, more on shmacking, later"
"to commerate being shmacked the creators of the video are now selling T-shirts."
12 step recovery jargon referring to someone new who talks about how great life is, now that they'resober. Usually meaning that the person is out of touch with reality.
The new guy seems pretty happy for a dude who has no job, no money and no family. He must be on a pink cloud.