Can be used in place of the word bitch or douche bag. Also in adjective form it is much like the word lame. Schmol has a negative connotation but can be used in a joking manner with friends.
Wow you are such a schmol
or
Man that party was so schmol, there were no chicks there at all.
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Schmols are an extremely rare species; cute, but very protective. Legend says there's only two in the world. They're both a little quirky, but a hoot at a party. Known to touch joeys, sing songs (mostly about cats), and eat everything in sight.
Approach with caution.
Person A: "Oh look it's the schmols!"
Person B: "No those are schmoletts, the schmols are behind them"
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