http://www.thefreedictionary.com/_/dict.aspx?rd=1&word=wagWag is often used to refer to bimbo girlfriends or wives of well known footballers in Australia. Not sure whether this term is common in N. America and how it applies to Wallylutz who I am aware is a man. Sadly, what Wallulutz said is true IMO even to a bystander like me from the other side of the globe.
A wag is a droll person; a wit; a humorist