Combine all the ingredients in the small saucepan and bring to a boil. Reduce to low and simmer for 10 minutes. Allow to cool.
Smoked Spam
Preheat the smoker to 225°F. Add wood chunks.
Cut the spam into 1 inch cubes.
Toss the spam chunks with the bbq rub. We used our rub from the Beer Can Chicken but you can use your favorite rub.
Place the chunks on the baking grate and place on the preheated smoker. Smoke for 45-60 minutes or until outside starts to darken.
Remove from smoker and place the the smoked spam cubes in the aluminum pan and cover with the teriyaki sauce. Place back on smoker for 45-60 minutes or until caramelized. Serve immediately.
Notes
Spam: There are many varieties on the market and it's a great time to experiment with a couple of them. Sauce: Use any bbq sauce, teriyaki sauce or glaze that you love. Wood Chunks: We used oak as the spam wasn't going to be on the smoker very long. Fruit woods will make this less smokey. Mesquite will make it stronger. Salt: Do not add any extra salt to the recipe or sauce. There is already a lot of salt in Spam and you don't want to add anymore.