Preheat your smoker or grill to 225 to 250°F for indirect heat and soak wood chips in water for 30 minutes.

Place the whole bologna on a cutting board and score the surface in a crosshatch pattern about 1/4-inch deep without cutting through.

Season the bologna all over with salt and freshly cracked black pepper, brushing on a thin layer of mustard or barbecue sauce if using.

Place the bologna on the smoker or grill grates away from direct heat and stabilize temperature to 225 to 250°F.

Add soaked wood chips to the coals or smoker box and maintain thin blue-gray smoke throughout cooking.

After 15 minutes, insert an instant read thermometer into the thickest part; it should read 150 to 160°F.

Continue smoking for another 10 minutes or until the exterior is deeply caramelized and the internal temperature reaches 165 to 170°F, about 20 to 25 minutes total cook time.

Remove the bologna from heat and let it rest on a cutting board for 5 minutes to redistribute juices.

Slice the rested bologna into thick rounds or bias cuts and arrange on a platter to serve warm.