This may also be shortened to "mahog" or "mohog."
Both expressions are encouraged to be use plurally such as "mahoganies" or simply, "mohogs."
As an additional note, this is an excellent way for caucasions to speak directly about "black people" in the presence of said individuals without causing a confrontation.
"Did you see those mohogs fight in the food court yesterday?"
"Shhhh there's a couple of mahoganies sitting over there."
"I wouldn't move into THAT neighborhood, its full of mohogs."
"She's a very mahogany type of woman."
2) Dude I totally saw two chicks mahoganying at the bar last night!