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1.
A woman who will fight to the death for a hand bag made from the most expensive animal avalible.
Ex. 1
Mark: Dude, check out her new bag!
Peter: Yeah, it's made from gorilla skin.
Mark: What a bag slag!

Ex. 2
Helen: Check out my hand bag, it's made from elephant ivory.
Peter: Damn! You are a real bag slag!

An Arcade-League game featured in TimeSplitters: Future Perfect.
by Luke8902 November 13, 2007
 
2.
Similar to "swamp ass" but found in the male gentile region. It is used as an insult to describe someone or something of a foul nature.
Johnny: Bro, did you meet the new boss?
Jimmy: Yea man, he's worse than "bag slag" on a hot summer day.
by IMsmith October 28, 2011