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Short for "crossed-legs", a technique used by bodyboarders to enhance the stylefactor of foward or reverse spin moves. When the bodyboarder raises his/her legs up in the air while doing a spin, as you do, they cross their legs over one another before releasing them into spregs at the end of the spin.

Origins of the term are unkown, but it is likely that it was created in Western Australia as it is widely used here, and all the maddest bodyboaders come out of WA yeew!
Yeeew how's his kregs!

I wish my kregs were like Ryan Hardy's

Keep kreggin' mate
kregs by Brammo September 21, 2005
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Used as a salutation. Short for Kind Regards. Derived from the TELEX days, when TELEX's were charged per word. KREGS combines two words into one....Kind Regards
Kregs by Jack McCann March 17, 2007
Related Words
kregs Kregslist Krebs kreas Kreshnik Kres Kreps kreshaun krešimir Kegsy

Krigsskolen 

Krigsskolen (lit. The War School"); The Norwegian Military Academy. Claims to be the oldest university-level institution in Norway, yet graduating cadets only earned bachelor-degrees after 2008. Tuition is not only free, the Army's future leaders earn almost 60k USD while in school at Linderud, Oslo. When cadets matriculate, they're automatically promoted to 2nd Lueys. When they graduate after 3 years, they become 1st Lueys. They're expected to fulfill the role of platoon COs AND senior NCOs. Yeah, you know it. Norway needs an NCO-corps yesterday.
Norwegian Police University College student:

Man, I got tuition to pay, I might get a job north of the polar circle, and all the flak for wanting to be a cop.

Norwegian Army cadet:

And I'm living the good life at Krigsskolen.
Krigsskolen by norasoc December 29, 2011

kregging 

n. laughing at something that is terribly distasteful, but still hilarious at the same time.
driving down the road with the fellas and you see some random pedestrian walking alone.

person 1 - "lets do some kregging."

person 2 - "oh hes perfect" (motions at pedestrian)

person 1 - (slows down car)

person 2 - "fuck you, you fuckin bitch!"

speed away while loling.
kregging by true fellas April 11, 2010
A slang word for trainers, (sneaks in specific)
Da shade on dem kreps is propa nang
kreps by p. nisbet December 30, 2004
A beautiful women that may not be that tall she is soooo nice and sweet and when she has kids She would do anything for her kids and will have an amazing family not a beer drinker a little bit in the summer but that’s it any man would want her but she would wait to find the one who she will be with for the rest of her life
I mean anything she was my mom and we had a house fire she yelled to my brother to get down on the ground if you know a krestine you need to keep her as a friend family or even you girlfriend
krestine by Joe hotel May 9, 2018
Kres by SSGSSEdits March 22, 2019