Alternate (read: slightly more studly) name for the man-purse, murse,
messenger bag or "satchel" that straight or metro guys try to
get away with carrying these days. Usually is made of canvas.
Comes from the
Australian term "swag", a waterproof bedroll that foot-travelers used to roll up their possessions in for safekeeping and easy travel.
"Hey, Brett, check out Hunter's
man-purse. He's such a prep."
"Naw, dude, don't
you know anything? That's totally a guywag."
"What's a guywag?"
"Check
urbandictionary and find out yourself, you lazy slacker."