It means free shit, and more often than not, stolen shit. Rappers redefined it by using it like swagger. It does not mean style; that is swagger.
I just boosted a 7-11 and got a bunch of swag.
by King Douche-nozzle November 13, 2013

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An acronym used in the 1960s by a group of men.
"Secretly We Are Gay"
He was part of the SWAG group.
by SquidgyPower August 31, 2012

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Shit We All Got
"My mum drinks", its so SWAG
"My cat died", its so SWAG
"I'm fat", thats SWAG
via giphy
by JunkWorld July 04, 2016

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The terrible corruption of the term "swagger"
Idiot: I have "swag"
Gentleman: I have classy swagger

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Originally said by movie, TV, Music stars at award shows for Shit We All Get.
Look at all this SWAG in my bag.
by Iddywacu July 01, 2015

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It is literally just a sack on a stick that Australian bogans used to use. Everyone thinks that it means cool. It doesn't mean cool. It has been taken so damn out of context that it is infuriating! And no, it does NOT mean 'secretly we are gay'. Other CORRECT meaning of this word are the loot of a thief, poor quality weed and to sway from side to side. Incorrect use includes:
"I am so damn swag"
"You have no swag"
"I am the swagganator"
You, idiots, are literally calling yourselves a handkerchief on a stick. Correct use is
"I saw that homeless person carrying clothing in his swag"
by Paixx May 13, 2015

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A over popular word used mostly by people under 30, or in other words people that aren't old and/or unhappy with life. Yes this means stupid people misuse this word as well. There are many types of swag. Its just another hip way of saying a person, place or thing (no matter what your style is) is attractive.
Teen: hey, do you see the Rolex that one man is wearing?

Stupid teen: Grampa SWAG!!!
by smartasshellhipster October 28, 2014

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