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I belive this term originated in Cornwall, UK. It shares the same sort of meaning as dogs bollocks. So if something is really cool its sports wear.

Has been known to be used as a code word for cocaine.
1.'I just bought a sportswear mp3 player'

2. You: "Mate have you seen my new phone?"
Your mate: 'Cawww thats sports wear that is'
by T C February 04, 2005
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