It's a stack of cash (usually $100 bills) wrapped in a blue band that you hold up to your ears and pretend it's a phone
" I went to the bank the other day and i got my blue money phones
Another slur for ni- I mean African-American
Black man: what's up
Superior white man: shit, if i knew you were of the Hoon Ding I would have made fried chicken and grape kool-aid