What is Schwiggity Schwiggity Schwag?

1.

Its is a low quality form of pot, or mariuana

Joe: Did you get that dank?!

Bob: Nope, all i could get was this Schwiggity Schwiggity Schwag...

2.

Used as a greeting to a friend.

Yo Jeff! Schwiggity Schwiggity Schwag!
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