[Cannabis] of very, very low potency and quality, usually harvested too early or too late in the growing cycle. Schwag is stereotypically associated with [marijuana] that comes from [Mexico], pressed into bricks to facilitate easy transportation across the border. It is very cheap and very unhealthy, as much more is smoked to achieve a high than higher potency marijuana.
Unlike [sensimilla], schwag is loaded with seeds and THC-bearing crystals are nowhere to be seen. The potency of schwag is so low that it often does not even smell like [weed].
Some varieties are called [dirt] for their sheer resemblance to compost. In fact, any high that comes from smoking schwag only comes after smoking very large amounts.
Also known as [catnip], [shwag] (alternate spelling), [shit], and other demeaning terms.