An American idiom:
1. to talk in a relaxed or idling manner. While waiting for the train, ism shot the breeze with a stranger. (While waiting for the train, ism spoke with a stranger.)
2. to waste time; procrastinate. While waiting in bewtween classes, shmOOnkie pOOnks shot the breeze by playing spades. (To pass waiting time, shmOOnkie pOOnks played spades.)

The first definition may have come from talking into the wind or participating in empty talk. (1919)1

1Mott May-Venn, Put words in my mouth, Alameda Journal, February 27, 2001.
(Available cached at http://www.google.com/search?q=cache:www.contracostatimes.com/community/alameda/stories/alcolwords-mouth227_20010227.htm+mott+may-venn&hl=en)

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