SWAG is not a word. It is an acronym which stands for Stuff We All Get. Typically used to describe
cheap merchandise given out freely by radio
stations; bumper stickers, t-shirts, key chains. Nothing anyone would
pay for. Also common among the drug culture in reference to common, low grade marijuana.
Variation: SH.W.A.G in which case the first
word "Stuff" is replaced
with the word "SHIT".