The Shmoney dance was popularized by New York rapper Bobby Shmurda in his song 'Hot N*gga'. According to Bobby Shmurda, he and associates normally do the dance after getting money though illegal activities, which they refer to as
shmoney. During an interview, Shmurda said "You know when you just come from hitting a lick, or when you make $400/500 an hour......you come back to the block and start dancing, after you get shmoney, you bust the shmoney dance".
Shmoney Dance Video
The dance itself is pretty simple, the video below shows Bobby Shmurda performing the dance in his song 'Hot N*gga'.