One of the most overused words nowadays. Primarily used by the same people that use terms such as "YOLO", meaning it is mostly used by douchebags wearing their hats sideways and their pants so low they'll trip and fall if they attempt to walk any faster than a sloth.
Also stands for "Secretley We Are Gay"
Daniel: "Man, I'm soooo Swag!"
Filip: "Wow, I didn't know you were gay :O"