Noun, used to describe something topical in a conversation or an activity between two people. It communicates by way of the connection between the two people.
I.e. Two people involved in let's say fixing a computer... "Hey, pass the me the schmedly (alan key), I need to take out the tape-back up..." or "can you grab me a schmedley (leash) while you're up there? I need to take the dog for a walk..."
A Schmeddy is a very good friend, your bestest friend maybe, a bestie, one that causes you to laugh so hard you cry and/or pee your pants when your together or on the phone. A friend that’s like your sister or brother from another mother.
I had such a great time with my schmeddy! I can always count on my schmeddy! Me and schmeddy laughed our asses off all night!
12 step recovery jargon referring to someone new who talks about how great life is, now that they'resober. Usually meaning that the person is out of touch with reality.
The new guy seems pretty happy for a dude who has no job, no money and no family. He must be on a pink cloud.