For a person to have little to zero swag. Used mostly in online gaming chats like Xbox or Playstation to play off the word "Lag", which happens when your internet connection slows down making the game almost impossible to control accurately. This would cause your ( Swag to Lag ) just like your connection, because you just lost the game.
I raced J-Rock on Xbox in Forza Motorsports and he was slow as hell, he blamed his slow connection. I said man whatever, your just Swag Laggin'
To possess little, to zero swag
Damn Jerry, The JagOff Assassin™ just embarrassed you in that race, and won by a mile. Bro, you are Swag-Laggin' today.