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1. Swag Bag
A goodie bag that contains various useless yet irreplaceable items packed into a dufflebag, usually given at parties or by sponsers. Sometimes just useless house-hold items with a brand-name insignia on them
"Our sponsers left us a Swag Bag full of cool merch, such as one-zie pajamas" - Mark, Real World Road Rules Challenge Challenge
2. Swag Bag
Similar to the phraseIn my Bag, and Swag. Refers specifically to a state of confidence, charm, and luck with the opposite sex. Usually due to dress, attitude, or level of intoxication.
Guy1-"Hey, have you seen Jesse?"

Guy2-"Yeah, he just walked out with that fine ass white girl."

Guy1-"Oh shit, foreal? I saw him fuckin' with that Asian chick on the dancefloor earlier..."

Guy2-"Yeah dougie, he's in his swag bag tonight."
3. Swag Bag
An improvised condom, often used when an actual condom cannot be found in time.

i.e. Publix bag, Doritos bag, ceram wrap, glove
The one time I didnt have a condom, I used a swag bag.
4. Swag Bag
Reffering to or Pretaining to one whom enjoys the reefer
"Go get me soem weed swag bag.."
by Smooch Apr 22, 2005 add a video
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