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1.
Breast implants. Originated from the story where a woman survived an otherwise devastating accident when her 40 DD "airbags" interposed between her and the dashboard.
"Yeah, her breast implants absorbed most of the impact of the crash... but apparently exploded"

"lol, bulgarian airbags"
by Diggnation October 03, 2006
 
2.
Refers to breast implants. Coined after a Bulgarian woman driver escaped relatively unscathed from a head-on pile-up with another vehicle when her 40DD breast implants absorbed most of the impact.
She has some fine Bulgarian airbags
by HenryD October 03, 2006
 
3.
Extremely large fake tits that are an acceptabe substitute for real airbags.
I want to motorboat those Bulgarian Airbags, giggity!
by Ben Ellis October 03, 2006