To fume is to feel or express great anger. You would fume if your teacher accused you of cheating when you didn't.
As a verb, fume is usually used figuratively to mean "to feel very angry," whereas as a noun, it is used more as its Latin root fumus "smoke, steam, vapor." A strong-smelling gas, smoke or vapor is also called a fume. In cartoons, when a character is fuming, it is often drawn with fumes coming out of its ears. You may fume about the inconsiderate person who sits in the car with the engine running, spewing clouds of exhaust fumes.