I smoke 1 lb. chubs of Frick's Bologna (baloney where I come from). It is outstanding. Check out their site -http://www.frickmeats.com/
Now. Being a simple Ozark hillbilly I just remove the plastic wrapper and put the chub on the smoker. I generally put it on while smoking something else, much as I would a fatty. 2-3 hours gives a nice smoky flavor and COMPLETELY changes the way the baloney tastes. I usually smoke it with hickory. I prefer it hot off the smoker, or you can heat it up later.
It eats fine on snack crackers with some cheese of your choice and "something cool to drink". Makes a great sammie.
Or you can get fancy and do about anything you want to it, as mentioned in previous posts.
There are those hanging out here who will testify.