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swag - Function: noun Date: 1660

1 : SWAY
2 a : something (as a decoration) hanging in a curve between two points : FESTOON b : a suspended cluster (as of evergreen branches)
3 a : goods acquired by unlawful means : LOOT b : SPOILS, PROFITS
Neilson Surfboard Flexfit hat 4 : a depression in the earth
5 chiefly Australian : a pack of personal belongings

In this context mostly meant as definition #5 but could be considered #3b (to the victor go the spoils).

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