Yes that is a cigar Dash is smoking.
I love pony (HAH!) tail Dash. Don't ask me why, but I do.
Before some of you start making choked cries of outrage and despair, consider that Axton and Dash are basically the same person. They're both shamelessly arrogant glory hounds with the skill to back up their talk. (Axton was dishonorably discharged for blowing up a group of terrorists WITH their hostages because it was "Awesome".)
1) Who's the fan if who?
2) Which one secretly has a crush on the other?
3) Why didn't they do this for the first 4 vault hunters?
4) Who's with Gaige?
That leaves Salvador and Gaige.