It could mean a number of things, like what laughAlittle said, or I've heard it means be a beautiful swan. It could be neither, who knows
I'm pretty sure it has more than one meaning. Bas a** b***ches is one and I think blue and black swag might be one?
I don't remember who, but I was on someone from Panthers instagram and she had said in a comment that it meant B** A** B*****S.
Here are a few theories (plus some other sayings): https://www.thecheerbuzz.com/the-meaning-of-g3fca2a-fiofmu-oafaaf-and-8-other-cheer-sayings/