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Marijuana, especially of a particularly high standard. Probably derived from "wrecked", meaning stoned.
Hey man, this is some damn fine wreckage.
wreckage by HeyDude September 7, 2006
Slang term for a vagina with wrinkled, loose-hanging labia.

The implication is that it has been "wrecked" by years of stretching, pregnancy, etc.
Incredible body but did you see the wreckage going on down there?
wreckage by wrecker December 25, 2003

Wreckage Conversation

When a conversation between 2 person becomes a chaos by stupid texts from other folks in a group chat.
Last Night, It was a fucking Wreckage Conversation in Facebook and I had to exit the group chat voluntarily

anal wreckage 

Man i got some mad anal wreckage from taco bell last night
anal wreckage by Dakooter November 22, 2021