Coney Island Rock Salt
Coined by a local hobo overheard during WABC7NY coverage of the 1993 failure of the Sonic the Hedgehog Macy's Thanksgiving Day Parade balloon, this appears to be a term related to what the man was smoking out of his crystal meth pipe when he saw the balloon deflate.
"Jeepers creepers! I gotta stop blazing this Coney Island Rock Salt! It looks like that big fucking balloon is coming right towards me!"