1. exaggerated variation of the word fagot using a slang term for shitty weed shwag. 2. ultimate drat. 3. anyone you hope starts talking shit to you so you can beat their ass
Marijuana that is viewed by upper-class whites as "shwag", aka doo doo weed, yet perceived by African-Americans as "dankety". Thus results the compound of the two perspectives, ending in the final common term of "shwagety". Note: "shwagety is usually ganked from one's father, or anyone over the age of 40.