there be many a dude who ain't gotz the tay-g skills so im here to translate
what the hell some rappers and "homies" are always saying.  so keep up,
and don't be "trippin" when tay-g "busts" "a" "cap" upon your knowledge.
all the meanings will be followed with an example sentence
 

hip (hip- adj.)- trendy. it is the "in" thing and when people see you are using hip
                        stuff, you will magically become more popular
                       "That T-shirt Johnny is wearing is very hip."

bust a cap (bust a kap- verb)- to shoot someone. usually in the hood(see hood). cap refers to a shot
                                               "Let's bust a cap on that fool with the beamer."

trippin (trip in- verb/adj.)- to fall behind or to be confused
                                         "Yo, this be some trippin shit."
        _
yo (yo- interjection)- a greeting. similar to hello
                                 "Yo, what's up?"

dawg (dog- noun)- a person, usually one of your homies(see homies)
                              "Hey dawg, let's go to the movies."

bitch (bitch- noun)- a female dog; or a female acquantance who is owned by a pimp(see pimp); or an insult
                               "Tay-G's bitch be some hot shit."

hood (hud- noun)- short for neighborhood. usually a fellow or rival gang members house is in the area
                              "Let's go to Tay-G's hood for some beers."
                _    _
homies (ho mes- noun)- friends of yours or of someone you know. can be used interchangebly with
                                         gang members. not to be replaced with bitches
                                         "What's up homie?  How's it hangin?"
         _
fly (fli- adj)- see hip

pimp (pimp- noun)- owner of bitches or hoes. usually has arsenal of pimp canes, cigars, large necklaces
                                and nine's
                              "Mike is a real pimp, not like MakDaddy."

pimp (pimp- verb)- to use the act of pimping which includes the pimp slap
                             "John is pimping Jane like there's no tomorrow."

tits (tits- noun)- found on the breast's of bitches. object of affection for many men. used interchangebly
                           with breasts
                          "Jill has some good lookin' tits!"
          _
fine (fin- adj.)- usually refers to good; or state of looking good
                        "Jane's ass is looking fine."
         _
hoe (ho- noun)- see bitch

dick (dik- noun)- usually refers to a man's penis; can mean a person is not being nice or friendly
                            "SUCK MY DICK, BITCH!"
          _
nine (nin- noun)- refers to a 9 millimeter gun. used to bust a cap
                           "Yo, gimme my nine so I can cap that

threads (thir eds- noun)- an article of clothing worn by a fellow hipster
                                        "Check out Tay-G's hip threads!"

phat (fat- adj.)- to say something is cool or trendy
                         "Tupac's 18th album is phat."
                        _
keep steppin (kep steh pin- verb)- "do not stop walking towards my direction"
                                                          "Fool, keep steppin if you wanna get shot."

kick it (kik it- verb)- means to hang out somewhere. usually with homies
                                  "Yo, lets kick it at Tay-G's house."
                 _
pussy (pus e- noun)- usually refers to a woman's vagina; can mean someone is "chicken"
                                 "Dude, Makdaddy be a pussy for ditchin Snoop Dogg."
            _   _
mofo (mo fo- noun)- means "mother fucker"
                                 "Stupid-ass mofo, get outta my hood."
           _
tight (tit- adj.)- means something is cool. similar to phat
                         "Yo, this movie be tight."

kegger (keg er- noun)- a party where alcohol is present and is being consumed.  many are
                                     usually drunk.  wet t-shirt contests are a custom.
                                     "Tay-G's kegger was phat."