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Any corporate/branded merchandise given out for free in order to promote the company/brand. Usually little trinkets or doodads, sometimes clothing, and always cheaply mass-produced. Etymology of this term most likely stems from a middle-English use of the word 'swag' often in pirate circles or other criminal circles as a euphamism for loot or plunder. How anyone can really consider the modern day definition of swag as plunder or loot (since it's worthless) is beyond understanding.

See also: schwag
My job at McDonald's sucks ass, but at least I get some skanky swag to donate to Salvation Army.
swag by GothYena September 19, 2004
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Probably the shittiest term ever coined by the human race.
Douche: ''Aw man I got swag''
Normal human being: ''Shut up''
Swag by Czapka1380 November 6, 2012
Something people think they have when all they have is the following: a 3 inch dick, no life skills, saggy pants, an undeniably low IQ, turrets, or retarded looking balls.
The male thinks to himself, Man I have a small penis. He then says out loud, "Hey guys.... SWAG!" (funny rhymes with fa...)
Swag by ChescaFran February 10, 2012
when a girl deep throats and swag
SWAG by kasper GZ April 30, 2012
Those trainers are swag
Swag by ratman October 25, 2003
Wow, people are ignorant. The word swag has been around since the 1500's. Which you would know if you picked up a real book once in awhile. Or hell even looked at the lamps/lights section at Home Depo or Lowes.

Swag has two meanings.

1. Illegally acquired goods.

2. to sway or sag. Like a Hanging Swag Lamp/light. Remember those horrible glass grape lights from the 60's at grandma's house? Those are a type of swag lights.
Pirates used it in old movies and books, which leads me to believe it only got popular because of losers who jumped on the shitty pirate bandwagon since PotC came out. The same goes for all of those other "new" and "cool" words/sayings; some douche bag copied it and pretended it was original. Come on people just look at TV, originality is dead and people are just ripping of works of those long dead, since the dead can't sue.
My friend showed me how to put up and swag my curtains, so they all hung evenly in the middle.
Back at their hideout, the pirates split the swag between them.
Swag by Ignorance is Bliss October 14, 2013
scientific wild-assed guess
Unable to find a real explanation, I made a swag.
Swag by kmac September 6, 2003