Collingwood said on Monday it was a private matter for the players and they would not take any action.
"The club is aware three currently listed players were involved in consensual exchanges of messages + pictures via Instagram," the club tweeted.
"The exchanges have been on sale to media outlets for some time + as a result have been obtained + published by a media publication."
McGuire said he didn't believe it was a scandal for the club.
"It's got nothing to do with Collingwood, ring their managers and the players' association," he said.
The AFL's social media policy states the league is likely to view "accessing, downloading or transmitting any kind of sexually explicit material" as inappropriate.
McGuire agreed the images and videos appeared to contravene the policy.
"Good to know Swanny's got some room for some more tats," McGuire joked.
Cloke, 28, is engaged to Rebeccah Panozza while Swan, 31, has been in a relationship with Taylor Wilson for eight years.