Note - Swag is not to be confused with Schwag (Mexican marijuana as opposed to North American marijuana which typically contains a much higher THC content.)
1. Stolen Without A Gun - in the concert industry this term refers to promotional items distributed normally at a concert to roadies and employees of the concert company (although most concert companies were merged into "SFX Entertainment" from 1997-2000 and later sold off to "Clear Channel Communications" which also owns large majority of U.S. radio stations.) People have made up many other explanations for this acronym, but this is the original meaning according to many people within the music industry.
2. The belongings of Australian bushman which they rolled and carried while traveling by foot.
3. Scientific ass wild guess - This acronym was popular in the 1980's, meaning a highly accurate guess not backed up with scientific evidence.
1. Stolen Without A Gun - in the concert industry this term refers to promotional items distributed normally at a concert to roadies and employees of the concert company (although most concert companies were merged into "SFX Entertainment" from 1997-2000 and later sold off to "Clear Channel Communications" which also owns large majority of U.S. radio stations.) People have made up many other explanations for this acronym, but this is the original meaning according to many people within the music industry.
2. The belongings of Australian bushman which they rolled and carried while traveling by foot.
3. Scientific ass wild guess - This acronym was popular in the 1980's, meaning a highly accurate guess not backed up with scientific evidence.
1. Tonight the promoter gave me this great swag.
2. The Aborigines traveled with their swag.
3. I listened to his swag and it made lots of sense.
2. The Aborigines traveled with their swag.
3. I listened to his swag and it made lots of sense.
by Doug D. Smith December 07, 2006
Get the swagmug. 
Another word used by black "people" that makes absolutely no sense. English requires almost average intelligence to learn, so most blacks don't even attempt it. English isn't nearly cool enough. It only becomes cool when you pepper your broken, grammatically incorrect sentences with made-up words, like swag.
Mane dis muhfuckin english be hard n shit. It aint got no swag like me i bes da playa fo sho wit bitches and money and watches. Dem swag wheels is swaggin on dubz and swag.
by Black people are aliens August 10, 2010
Get the Swagmug. by Aidan Brooks June 07, 2005
Get the Swagmug. A synonym for the way University School of Milwaukee Basketball team holds itself as they travel to the greatness of Renaldo "Swiperboy" Woolridge and Brandon "B Jen" Jennings.
by Hot Sauce in My Pants February 15, 2010
Get the Swagmug. 1. Wreathes that aren't round.
2. Measurement in centimeters of distance between the top of the pants and the waist.
2. Measurement in centimeters of distance between the top of the pants and the waist.
by Mr&MrsChen April 06, 2012
Get the swagmug.