G Status can be used either as an adjective or an exlamation. It refers to the quality of something being G, Gangsta, Great, Ghetto, or Godtastic. Derivatives of G Status include the verb G.
-Fatty Ged up hard this weekend
-What did he do?
-He drank a whole bottle of Tussin and killed a freshmangirl!
-G Status!
-I wish I was black...