Driving a car with a small child in your lap. In the event of an accident, the child's body willhelp protect you from injury by cushioning the blow between yourself and the steering wheel.
Bob: Should you be talking on your cellphone while you're driving?
Bill: Relax, I'm Airbagging with the kid. Even if I hit something, I'll be fine.
In Halo, when a player continually presses in and releases the left analog stick, the action is considered teabagging. Airbagging is a maneuver, unique to Halo Reach, a player can perform by engaging in teabagging whilst in the air.
XxColtrainexX: Dude, wtf is he doing? He's kinda floating...
MaStErChIeF: Ummmmm.... he just like... he's teabagging midair...
Cptnhamhans: Oh, thats one of my stupid ass roomates. He calls it airbagging...
Cptnhamhans(1): Weeeeee... wait... PISS! I got assassinated...