The units for velocity is world units per second, as Jessy said.
The unit for drag is a little weird. It is "per second" (or inverse seconds). This is from a calculation (after some experimentation) done by my friend. He found that
Drag Constant = -Drag Acceleration / Object Velocity
with the mass of the object not affecting the acceleration.
As the units for acceleration are meters/second^2 (lets just call world units meters) and velocity is meters/second, the meters and one of the seconds cancel, leaving us with 1/second or "per second".
P.S. Of course, without access to Unity's code or a confirmation from a Unity employee, the exact implementation might not be this.
P.P.S. I know that I bumped this (just) year old question; I ran into this conundrum as well and I figured that others might want to know too.
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