Swagola is a portmanteau of swag and the insult fagola.
It is intended to be directed towards anyone with over sized skateboarding shoes, over sized jeans, a snapback or says yolo.

The use is perhaps identical to such of swagfag and swaggot.

Internet persona(s) who happens to follow you and you happen to follow them back and maintain communication with and have a mutual liking for eachother whether it be friendship wise, etc. (Mutuals if more than one mutual)