I don’t think it has a natural smell–unflavored stuff is basically just water vapor–but you can flavor it like anything, and a lot of people do. My roommate has used stuff that smells like mint, or fruit, or various spices. I find them pretty pleasant, actually. It’s no worse than someone with a mouthful of candy, and it dissipates quickly.
You can get ones that smell like tobacco, if that’s your thing, but I’ve never smelled it. You can also apparently get ones flavored like bacon or roast beef or teriyaki. That just seems weird.
