essentially the word 'boys' but said with some hilarity and jovialness. also can be used to refer to a general group including both male and female. Came about in Fort William in the mountainbiking community and is beginning to spread
Normally a conversation opener
eg 'alright baeys, hows it going today?'
however can also be used in reference
'The baeys were getting pretty excited about the new trail that they just finished building'