A last name commenly refering to someone who is the best type of person. These people often have the most complex personality and many talents. People like this are extremely rare and if you know one, you should not take it for granted.
I don't buy the schmegegge about Morty sleeping with Moira.
His version of the story was pure schmegegge.
The whole schmegegge was made up to get Liz a little bit of attention.
Looking or experiencing something nice after witnessing something horrid like a disgusting gif or a disturbing video. Typically used as eye bleach are nice images of whatever makes the disturbed person happy.