Teabagging in an FPS is normally a sign of disrespect or a way to taunt an opponent you've just killed. Splitgate takes a somewhat different approach to teabagging, actually encouraging its player base to do this nefarious act. 1047 Games even created a full game type for it in Splitgate Season 0.
This game mode is called Teabag Confirmed and you might be wondering what it is. It plays like Kill Confirmed in the Call of Duty series except more disgusting. Players face off in a deathmatch where kills only count if you insert your enemy into a teabag. Enemies can deny your team points by trading tea bags.
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This hilarious game mode is one of many Splitgate game modes and 1047 Games have shown they aren't afraid to experiment. They even added floating tea bags to the corpses. In Teabag Confirmed you will see a lot of crouching which can be done by pressing the Ctrl key multiple times.
This approach to teabagging and incorporating it as the primary function of a game mode is an ingenious way to get players having fun. What is normally considered a disrespectful act might now be considered necessary as it is the only way to score points. Or maybe that guy on the other team has no idea what game mode he's playing and just wants to give you a tea bag.
For more information on Splitgate, see How to fix equ8 initialization error in Splitgate and Did Splitgate capture the flag? on Pro Game Guides.