The Will Smith slap meme consists primarily of video clips from the Oscars ceremony showing Will Smith walking on stage and striking Chris Rock, along with Rock's reaction and the audience's shocked response. The meme format includes reaction videos, slow-motion versions, and edited compilations set to music. Users also created variations placing the slap in different contexts or replacing the participants with other figures. The meme's power derived from the unexpectedness of the live incident and the subsequent cultural discourse it generated.

The incident occurred during the 94th Academy Awards ceremony, one of the most-watched award shows globally. Chris Rock has a history of edgy jokes at award shows, while Will Smith is known for his comedy and family-friendly public persona. The joke about Jada Pinkett Smith's shaved head was perceived by Smith as offensive (though some defended it as typical award show humor), leading to the unprecedented physical response. The incident became culturally significant because it occurred live on television and involved major celebrities, amplifying its reach and impact.

The Will Smith slap had significant cultural impact, dominating discourse for weeks and sparking conversations about masculinity, appropriate responses to insults, comedy norms, and cancel culture. The incident resulted in real consequences for Will Smith, including his resignation from the Academy and withdrawal from some projects. The meme revealed societal divisions about whether Smith's response was justified, appropriate, or excessive. It also raised questions about live television protocols and how institutions respond to unprecedented incidents. The moment became a generational touchstone and demonstrated the force of live events in the social media age.