An older expression referring to a spanking, from street slang of the mid-1900s.
"Roast ham" = spanked ass. Documented use of the term "roast my ham" to mean "spank my ass" dates to 1959, with the connotation of a violent spanking of the female ass.
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Whatever you want it to mean! It can be used in any context, tense, or form.
Dude, we just ham roasted them! We won by 64!
Kid: Mom, I'm so hungry!
Mother: There's some ham roast in the refridgerator.
Guy #1: Bro, what should my nickname be?
Guy #2: I don't know! Mine is Ham Roast!