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From the root words moyo, which is the mexican slang word for black person, and molotov, which is an improvised incendiary projectile weapon.

Basically, a black person, live or dead, who has been tied with a rope, bathed in kerosene, and thrown with the help of at least two people to carry him/her.
Person A: "Hey, lets go make a moyotov and throw it threw that window"

Person B: "Alright, I'll get the kerosene"
by sasquatchewon October 28, 2010
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