When you want to shut someone up. You use it and become a sarcastic bastard. Somehow, it pretty much works in any situation.
Professor: Blah blah blah boring lecture
random kid: Ok yeah, thank you schmank you
The worst racial slur. Comes from over 700,000 years ago. Was created by the Order of Saint Dumass.
"Shut up you stupid schmank!"
"You're nothing but a filthy schmank"
An expression of gratitude when you feel abashed or any other emotion. A yiddish thank you.
Teacher: "Here's your stat test."
Students: "Schmanke!"
Teacher: "Schmanke."
The rubbing of relish between whoms thighs
Damn you just schmanked all over your legs