The epitome of awesome. Usually used to describe an event that is remarkably positive in ones favor. Also can be used to describe the immediate boner you get when a chick is super uberhot.
If one makes all of their opponents cups on a rebuddle in beer pong its shwingtastic.
Guy: Dude I heard you fucking in your room last night 8 doors down the hallways!
Guy 2: I know! It was shwingtastic.
Nickname given to bales of marijuana thrown overboard or out of airplanes. Origin is reportedly from members of the US Coast Guard in the area of Southern Florida.