1)"Hey Dude, do you want to smoke some shnazzz?"
2)"Hey Dude, check out this huge fatty I just rolled" "shnazzz..."
1)+ 2)"shnazzz, this is some high quality shnazzz"
Nickname given to bales of marijuana thrown overboard or out of airplanes. Origin is reportedly from members of the US Coast Guard in the area of Southern Florida.