1) The new generation's alternative word for "cool
The new generation originally used swag to describe anyone thought to carry themselves in a way considered by some to be sexy / cool.
Note: considered to be retarded by many others.
Now it is used to describe anything thought to be cool, initiating the irk of previous generations and members of the new generation that disagree with new words.
A similar upset arose with "Groovy
" v "cool". Groovy disappeared from the majority of vocabularies within 10 years, foreshadowing the fate of swag
2) Said previous generations acronym to make fun of the new phenomenon. S.W.A.G "Secretly We Are Gay"