It's a short hand way and abreviation to say "Also Known As"

A few weeks ago, no one had “cheugy” in their vocabulary . Now everything is saturated with the word. It’s in our heads. It’s in our homes. Everyone is asking: “Am I cheugy? Am I a basic ass bitch? Am I GUILTY of being cheugy?”

The proliferation of cheugy in the mainstream discourse can only be attributed to one source: mental terror. It’s an orchestrated psychological trap to make you question your tastes and interests in the eyes of others.

You are not a cheug. YOU’RE PERFECT!!!!

It is very suspicious that the cheugy mascot is a Minion, a literal cyclops, a deformed
yellow panopticon in overalls ... do not let the all-seeing eye to control you. Be vigilant. Resist cheugy psyops.

Abbreviation of 'also known as'. Utilized when using an alternate name for someone/thing.

Is a thing most Dj´s and rapper use these days it means ( also known as )

How to introduce a euphemism. Saying something while meaning something else.
Used in a sarcastic manner