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Wearing your pants below your waist. It originally meant you were gay in prison (much research into finding and confirming that) but somehow became fashionable. It did not originally mean anything about a gang, which is an extremely common misconception. There is nothing cool about wearing your pants low.
Look at that faggot sagging his jeans almost as low as his knees.
Sagging by SaggingIsForGayCriminals September 11, 2012

Shagging 

having sex
wow yesterday me and Carly were soooo SHAGGING!
Shagging by Justin Benettt February 15, 2009

Slagging 

The addition of superfluous material (SLAG) to a “news story”, the addition of which is designed to prejudice the recipient’s response to “news”, thus guaranteeing that the recipient will “comprehend” and “understand” the story correctly—in the manipulative lights of those responsible for said slagging. NPR and Clearchannel are equally guilty but from opposite ends of the political spectrum since both “clue” the listener about the “correct” response to the story moreso than giving out raw data for the listener to evaluate.

I.E. the application of Bernays-esque “spin doctoring” to influence public perception while pretending to the objectivity of reporting. Political Correctness and Neo-Con Righteousness are equally guilty of the abuse. So named from “SLAG”, the impurities burned and refined out of raw material in metal working.
Neocon slagging: The Palestinian "terrorists" objected to Israel's bombing of food supplies in Gaza.

PC slagging: The election of a "black" president is a mile stone in race relation.
Slagging by Mabuse January 17, 2009

Old Sagging Balls (OSB) 

Someone who is suffering from aging of the testicles or epidermis surrounding his "junk"
The doctor knew from looking at the man's Old Sagging Balls (OSB) that he was easily 85.

sheep shagging bastard 

Scottish slang - Aberdeen Football club fans

Enjoy having sexual relations with sheep. Dons fans are often found with velcro gloves for catching the sheep.

see Jimmy, he's a fuckin sheep shagging bastard.

War Shagging 

Having sexual relations with someone to gain access to a computer system or network.
I got into the network by war shagging the girl next door.

I got her WEP key off her router while she was showering after I shagged her
War Shagging by Unleash October 11, 2010