Swag refers to an Alderley homie's belongings he may need in the near future, particularly tasty munchies, or drugs. For particularly great swag, further emphasis on the quality of drugs/ munchies being deemed necessary, "swaag", "swaaag", "swaaaag" and so on can be used, often in a nasal, throaty, higher pitched voice similar to how Kryten says "smeeeg" in Red Dwarf, but higher pitched.
"Just let me go inside and get my swag before we leave"
"I need to go to the shops and get some swag"
After pulling some fine drugs out of pocket, "Swaag!"
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