Lie on a bench so that your hips line up with the Smith Machine bar. Place your feet on the bar at shoulder width or even a bit wider. Release the bar and allow it to slowly come down by flexing your knees and hips. Press the bar up, squeezing your glutes and pointing your heels up so that the driving force is through the posterior portion of your legs.
This move can be incorporated into your leg day once a week as an intense finishing exercise. I would not perform this exercise early in your regimen as it will result in excessive fatigue of the hams and glutes before you get a chance to progress to other exercises. Go as heavy as you can without compromising form or your ability to release the Smith bar. I also think it is best to face towards the mirror instead of out on the gym floor, as this can be a pretty revealing position for passerby to witness!