Signage, decoration, or other paraphernalia added to one's identifying possession(s), such as a vehicle, which the owner thinks makes them look cool but, in reality, just announces to the world that they are a douchebag.
Did you see all the doucheswag on that truck? Dangly truck-balls, blinding LED accent lights, and a "suck-on-this" bumper sticker to boot!
A person who's awesome, cool, and popular, but also a douche. You hate everything about them, but secretly want to be them.
Dave: Jeremy is a pretty cool guy - he's got lots of friends.
Alex: Yeah, but he also wears hats backwards and calls people 'bro'.
Dave: I guess he's a doucheswag.
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