Webster's English Dictionary

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swag

1. swag \'swag\ vi or swagged;  or swag.ging [prob. of Scand origin; akin 
   to ON sveggja to cause to sway; akin to OHG]swingan to swing 1: SWAY, LURCH 
    2: SAG 
2. swag n 1: SWAY  2a: something hanging in a curve between two points : 
   FESTOON  2b: a suspended cluster (as of evergreen branches)  3a: goods 
   acquired by unlawful means : LOOT  3b: SPOILS, PROFITS  4: a depression in 
   the earth  chiefly Austral  5: a pack of personal belongings