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Probably a bastardization of smart as a whip, meaning unusually intelligent or quick witted.
Often changed for comic effect by substituting 'whip' for an object with no edges.
"Although Arthur looks like a clueless dork, he's as sharp as a whip and completely in control."
"As sharp as chewed gum, more like!"
by Eyeyambob July 02, 2013
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