A bottom-dwelling fish such as Carp, or more commonly Cod that is reknown for their undesirable or unpalatable flesh and/or offal.
Fisherman 1: "I've got one!"
Fisherman 2: "What'd you catch?"
Fisherman 1: "Damn, it's just a showbag."
Fisherman 2: "That's a cod. Why do you call it a 'showbag'?"
Fisherman 1: "Cos it's full of shit."
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