S.W.O.R.D. has slowly been portrayed as a more antagonistic organization from the perspective of Wanda and Vision.
From what fans can tell from set photos and trailer for WandaVision, Wanda has completely encircled Westview in a reality-altering bubble, which they are sending agents like Monica Rambeau into. It doesn't help that more rumors point to S.W.O.R.D. being in possession of Vision's destroyed body from Avengers: Infinity War.
There's also the possibility of a third party at work manipulating both sides since even Jimmy Woo believes that someone else was doing this to Wanda. It has been rumored for over a year that Nightmare would be the villain of WandaVision, which would make a natural connection to Doctor Strange in the Multiverse of Madness. New collector cards for WandaVision give fans a better look at Monica Rambeau's costume and S.W.O.R.D.'s full acronym in the MCU.
Merchandise for WandaVision of collector cards from Topps has been released, giving fans the best look at Monica Rambeau in what seems to clearly be a prototype of her superhero costume. One of these collector cards reaffirms that Rambeau is an agent of S.W.O.R.D. after growing up in Captain Marvel.
Another collectible card gives fans a full view of Monica Rambeau's costume, which only cements it further being some prototype considering how simple it is in appearance.
The suit itself is essentially just a simple pair of black boots and pants with a customized shirt with the S.W.O.R.D. emblem embroidered on the front. Monica has an analog watch on her left wrist too.
The most interesting thing from these collectible cards is the reveal of S.W.O.R.D.'s full acronym in the Marvel Cinematic Universe, which differs slightly from the comics.
In the MCU, S.W.O.R.D. stands for Sentient Weapon Observation Response Division, instead of the comics, which uses “World” instead of “Weapon.” The emblem itself is being affected by the same static effect seen throughout WandaVision.
The last card collectible shows another variation of the emblem for S.W.O.R.D., cleaner and displayed on a blue hologram but without the acronym present.
WHAT THIS MEANS
Marvel Studios changed the acronym for S.H.I.E.L.D. when it was introduced into the MCU, changing it from Strategic Hazard Intervention Espionage Logistics Directorate to Strategic Homeland Intervention, Enforcement and Logistics Division instead. That change was merely semantics, while this change with S.W.O.R.D. greatly refocuses the purpose of the organization to be more Earth-bound and less cosmic. Another possibility is that this is only what someone or something wants Wanda to see.
The collectible card that actually shows the full acronym for S.W.O.R.D. has that red static affecting it, which typically indicates something being changed, as seen in the various trailers for WandaVision. It could be that some like Nightmare may be manipulating Wanda into seeing S.W.O.R.D. as a more hostile organization than they appear while also stoking Wanda's own fears. After all, Tony Stark referred to Wanda as a weapon of mass destruction in Captain America: Civil War, so Wanda may be still internalizing this as how the world sees her.
Another reason for this change in the acronym is that the organization truly is refocused on “Sentient Weapons” instead of alien worlds, which could be in reference to individuals like Carol Danvers, Vision, and Wanda Maximoff. That could explain why Monica Rambeau is part of this organization, as Captain Marvel is one of these sentient weapons. Fans will have to watch WandaVision to see S.W.O.R.D. in action and their true purpose.