The word is formed using the word "turd" instead of shit to refer to your thoughts and opinions as said above your "shit" and swatter to give the image of swiping/stealing. A basic version of this word would be shit swiper or something along those lines.
The word is also becoming a popular general insult in the town of Cheltenham where the originator of the word currently resides.
Hater of cheese "me too its just so good"
you"which kinds do you like?"
Hater of cheese "yellow cheese?"
you "f**king turd swatter*