Mix between the word "spiffy" and "spliff", this is an adjective used to describe something related to weed (or anything in general really) that is nice, cool or jus plain out good.
In relation to weed:
"You rolled that joint pretty damn well man, that thing's spliffy"
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.
"Base we've got some square groupers floating outside of Miami harbor."