Used by people with so much swag that they cannot use proper term "faggot," which is what they really intended, so instead, "faggot" becomes "swaggot."
Tommy: "Hey MJ, wanna teach me some neat moves?!"
Michael Jordan: "Don't be such a swaggot"
Tommy: ...
Michael Jordan: "Don't be such a swaggot"
Tommy: ...
by csbandthefirecrotch February 10, 2014