How to organize a Giveaway or a Swap???

As I'm slowly approaching to 50 subscribers I was thinking about doing my first giveaway :)
But I'm new to it, I haven't even won a giveaway so I don't have a clear idea of the process.
Would like to receive recommendations based on your experience doing them; Do and Don't, what precautions to take, rules, best ways to package everything up, USPS fees, etc.

For example, I have a beautiful two piece bathing suite that I got last year but never used, not even tried it on and now it looks too big for me. I don't have anyone near me to pass it on, so I was thinking about using it for a giveaway. But since is something similar to underwear I don't know if it would be appropriate??? Sanitary wise, even tho it have never been worn, I ordered online and forgot about it until I found the box in my closet.

I'm also interested in starting a swap partnership, but I have doubts about how it works too and how to choose a partner. Due t economical situation I'm in no position to give high end products, mostly drugstore, fashion accessories and cute random things :)

Thank you for any input :)
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