Short for: Laughing My Mutha F*ckin Fat Asian A** Off. Most commonly used by very big Asians to get a point of responsive humor across to the other person or persons. In replacement of LOL, but only used for fat Asians.
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.