(1) Sandwich meat that is WAY past it's expiration date: has a funky smell, a slimy coating, and is not fit to be eaten.
(2) A lie that a smarmy person tells you.
(3) Rotten meat
That lyingbuffoon is so full of smarmaloney, I don't believe a word he says.
Boys who enjoy yaoi (a genre in Japan that contains sexual and/or romantic relations between two men); literally translates to "rotten boy"; corresponding female : fujoshi