From The Collaborative International Dictionary of English v.0.48 [gcide]:
Swag \Swag\, n.
1. A swaying, irregular motion.
[1913 Webster]
2. A burglar's or thief's booty; boodle. [Cant or Slang]
--Charles Reade.
[1913 Webster]
3. [Australia]
(a) A tramping bushman's luggage, rolled up either in
canvas or in a blanket so as to form a long bundle,
and carried on the back or over the shoulder; --
called also a bluey, or a drum.
(b) Any bundle of luggage similarly rolled up; hence,
luggage in general.
He tramped for years till the swag he bore
seemed part of himself. --Lawson.
[Webster 1913 Suppl.]
From The Collaborative International Dictionary of English v.0.48 [gcide]:
Swag \Swag\, v. i. [imp. & p. p. Swagged; p. pr. & vb. n.
Swagging.] [Cf. Icel. sveggja, sveigja to bend, to sway,
Norw. svaga to sway. See Sway.]
1. To hang or move, as something loose and heavy; to sway; to
swing. [Prov. Eng.]
[1913 Webster]
2. To sink down by its weight; to sag. --Sir H. Wotton.
[1913 Webster]
I swag as a fat person's belly swaggeth as he goeth.
--Palsgrave.
[1913 Webster]
3. To tramp carrying a swag. [Australia]
[Webster 1913 Suppl.]
From WordNet (r) 3.0 (2006) [wn]:
swag
n 1: valuable goods
2: goods or money obtained illegally [syn: loot, booty,
pillage, plunder, prize, swag, dirty money]
3: a bundle containing the personal belongings of a swagman
v 1: droop, sink, or settle from or as if from pressure or loss
of tautness [syn: sag, droop, swag, flag]
2: walk as if unable to control one's movements; "The drunken
man staggered into the room" [syn: stagger, reel, keel,
lurch, swag, careen]
3: sway heavily or unsteadily
From The Free On-line Dictionary of Computing (8 July 2008) [foldoc]:
SWAG
<jargon> Scientific (or Silly) Wild Ass Guess. A term used by
technical teams when establishing high level sizings for large
projects.
(2000-08-09)