Green’s Dictionary of Slang

(US gay) a male homosexual.

1934		‘M.J. Farrell’ Devoted Ladies (1984) 29: For he was tired, just a tired old quag.
1998		R. Scott Rebecca’s Dict. of Queer Sl. 🌐 quaggot — abr. a queer faggot (Yes, I know it’s redundant.).