The Collaborative International Dictionary of English v.0.48:

Swag \Swag\, n.
   1. A swaying, irregular motion.
      [1913 Webster]

   2. A burglar's or thief's booty; boodle. [Cant or Slang]
      --Charles Reade.
      [1913 Webster]

   3. [Australia]
      (a) A tramping bushman's luggage, rolled up either in
          canvas or in a blanket so as to form a long bundle,
          and carried on the back or over the shoulder; --
          called also a bluey, or a drum.
      (b) Any bundle of luggage similarly rolled up; hence,
          luggage in general.

                He tramped for years till the swag he bore
                seemed part of himself.           --Lawson.
          [Webster 1913 Suppl.]

The Collaborative International Dictionary of English v.0.48:

Bluey \Blue"y\,a.
   Bluish. --Southey.
   [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Bluey \Blue"y\, n. [From Blue, a.] [Australasia]
   1. A bushman's blanket; -- named from its color.
      [1913 Webster]

            We had to wring our blueys.           --Lawson.
      [Webster 1913 Suppl.]

   2. A bushman's bundle; a swag; -- so called because a blanket
      is sometimes used as the outside covering.
      [Webster 1913 Suppl.]