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1.
A term used when someone or something was completely off. When someone fucked up.
(watching the bears game)-wow he really shwanked that kick

Sam-Dude you were horrible in beer pong tonight!

Zac-I know man I shwanked hella cups.
by gocubsgo4 May 09, 2009
 
2.
Term for being totally drunk out of one's mind
"I'm gonna go out and get shwanked outs my mind tonight!"
by KyleJT December 06, 2007
 
3.
When a man or woman Performs Masturbation to Shay Wes Photography's Profile Picture or other pictures on Facebook. Shortened version of Shay-Wanker
Hey, Kenny what did you today? Oh Nothing, sat around and Shwanked...but don't tell my girlfriend (Wife).
by Tiphers June 27, 2011