[Puke]

I've heard it in all of the contexts below, but since our cultured Canadians suggest that their definition has not been hit yet, im sure we can turn it into something juvinile and sexual. well, at least as long as its a 'him' whom is being smoked.

That said, wither or not it refers to exhaust, burning rubber, or gunshot, it is alwasy an analogy for defeat. The particular circumstances could be almost anything, from being beaten in a gunfight or race, to having your advances turned down by a member of the oposite sex, to being defeated in a game of SE4.

On the other hand, if the him whom is being smoked happens to be a yellowtail or a wild pig, odds are it quite literally refers to a piece of meat in a smoker.