Diddy is ready for another name change. Yesterday (May 19) the hip-hop mogul took to YouTube to announce his new moniker, "Swag." XXLMag.com reached out to Lil B, the man arguably responsible for the term's newfound popularity to find out his reaction to the news.

“It’s all good," the Based God said. “Diddy is my family and we finna get in the studio! I’mma have the first feature from Swag.”

Diddy, who recently performed a show with the 2011 XXL Freshman in the Bay Area, explained his new alter-ego as so:  “I decided that I’m gonna change my name for a week in honor of my comeback," the Dirty Money honcho said. "I’ve gone as Puff, Puffy, Puff Daddy, P. Diddy, Diddy, King Combs and for a week, this week only, you can call me by my new name. Swag.” [Watch here]

In celebration of Puffy's rebirth, he also has a new twitter handle. Along with @iamdiddy fans can now catch the rap superstar at @iamswag.  —Nicole LoPresti

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