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1.
Street person, panhandler, who hangs out on Guadalupe Street ("the Drag") along the west side of the University of Texas (Austin) campus, leeching off the generosity of undergraduates.
I'd give a buck to that dragworm if he didn't try to sing along while he plays the guitar.
by seadog June 11, 2004
 
2.
A bum, homeless person, or affluent white kid from Westlake, Texas begging on Guadalupe Street (called the drag) across from the University of Texas.
Man, stepping over the drag worms on the way to the Architecture school can be hazardous!
by Pablo MonteChristo October 19, 2007