A reference to varieties of Champagne produced by Moet and Chandon (more appropriately Moët ét Chandon) a french winemaker subsidiary of the LVMH holding company.
Popularized by modern hip-hop and rap culture, often used in artists lyrics to advertise an elevated lifestyle of conspicuous consumption.
Moet Champagnes are typically twice as expensive as a typical bottle of Champagne, with varietal blends that match other winemakers in terms of total availability of selections. Moet and Chandon is the largest Champagne house in the world, and is also the largest wine producer in the world.
The overusage of the word has sparked creativity in artists lyrics to produce relative words and names that further elevate their status, throwing out even higher priced varieties of Champagne such as Cristal, Dom P (Dom Pérignon), and now most recently the Ace of Spades (Armand de Brignac) which can go for upwards of $1,000 bottle.
"Thug love mixed with CREAM
Hennessey, strawberries, and Moet
Champagne, mo' in the bath havin' a hot tub" -Silkk featured in Let's Ride by Montell Jordan