[kwag-mahyuhr, kwog-]
an area of miry or boggy ground whose surface yields under the tread; a bog.
a situation from which extrication is very difficult: a quagmire of financial indebtedness.
anything soft or flabby.

1570–80; quag + mire

quagmiry, adjective

2. predicament, dilemma, quandary, scrape, jam.
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Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
quagmire (ˈkwæɡˌmaɪə, ˈkwɒɡ-)
1.  a soft wet area of land that gives way under the feet; bog
2.  an awkward, complex, or embarrassing situation
[C16: from quag + mire]

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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Word Origin & History

1579, from obsolete quag "bog, marsh" + mire. Quag is a variant of M.E. quabbe "a marsh, bog," from O.E. *cwabba "shake, tremble" (like something soft and flabby). Extended sense of "difficult situation, inextricable position" is first recorded 1775.
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
So it's in his interest to help those students manage their plastic wisely and
  avoid the quagmire of credit-card debt.
It turned out that the road in front of Snitch's new place became a quagmire
  every time it rained.
The day may come when you need them to rescue yourself from a quagmire.
In spite of the heavy rains that made a quagmire of the course, the races were
  exciting from start to finish.
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