Noun:1. A device used to intentionally slow or completely stop data flow from the modem to the computer/gaming console for a short period of time. In online games, using a lag switch will allow you to become momentarily invincible. Your opponents are very easy to kill if you use a lag switch. Most leagues and ladders prohibit lag switches and consider them as cheating. 2. A device that lets you cheat in online games.
Verb:1. To use a lag switch to own an opponent. 2. A joking way of saying your going to kick some ass. Does not really mean you plan to cheat.