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1.
MBG
Moraga Bay area Gangstas is the main meaning but other meanings have also been created.
Moraga Badass Girls
Mac'n Big Gangstas
Makin' Big Geez
Most Balla Gangstas

The most gangsta chicks of Moraga. That's all there is to it.

"We iz what we iz!"
Those girls are such ballas, they muct be from the MBG!!
by K-FED n Mac Dreezy December 21, 2006
 
2.
MBG
Abbreviated form of Mexican Baby Gorilla - possibly the most annoying little fucker on the planet.
Chelsea: What is that orange thing over there? Oh yes!

Jim: Oh, that's an MBG, h'okay?

Chelsea: OMG that MBG is so fucking cute!

Jim: Actually, that MBG is too friggin' adorable, and it's pissing me off!

Chelsea: What? That little fucker is mocking me now! Why does it like it when I cry?

Jim: Poor Chelsea...
by trolling_motor May 05, 2011