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SWAG is not a word. It is an acronym which stands for Stuff We All Get. Typically used to describe cheap merchandise given out freely by radio stations; bumper stickers, t-shirts, key chains. Nothing anyone would pay for. Also common among the drug culture in reference to common, low grade marijuana. Variation: SH.W.A.G in which case the first word "Stuff" is replaced with the word "SHIT".
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