'T.E.A.B.A.G' stands for Teach English And Bang Asian Girls. inspired by a website called tealit(teach english and live in taiwan) where actually loads of foreigners just come to taiwan, get in a cram school, earn easy buck, bang as many chick as they can and pay no respect to women. Ofcourse, not all foreigners are like that. But here we specifically mean the ones that come to taiwan only because they are not cool back home.
Watch out for that guy, he is a TEABAG. He just came to taiwan to teach english and get laid.