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1.
1. New England trailer trash or northern redneck. 2. Someone whose family has been in America for generations (several of which may actually reside together) but has never gotten off the ground, couch, or smack long enough to build a functional family or become a redeeming member of society.
I immediately noticed the unmistakable scent of pot after the swamp yankee drove by me in his rusty Dodge Monaco with a rotting muffler.
by Pete Vegas January 24, 2005
 
2.
A New England redneck typically from Connecticut but can also be from Rhode Island and southeastern Massachusettes.

Swamp Yankees are charachterized as "salt of the earth" folk with good common sense, skilled with tools and building, clever speakers who reject modern trends, typically hunt or fish and have no problems eating squirrel or possum. They can be seen in old general stores, driving old pickup trucks, farming and wearing one piece overalls.
The term is used as an insult to those from urban areas but much like the "n" word it is used as a term of endearment and jest amongst other Swamp Yankees.
Did you see the huge tires he put on that crappy old truck....it's only Connecticut, what a swamp yankee!

Every spring old Joe the swamp yankee opens up the general store in podunk Connecticut for those wanna be hunter yuppies from the city.
by Sola Destrola April 26, 2010