Granted, I don't know how big this genre is. In fact, I only know of two: Dynamite Hack doing "Boyz in the Hood" and the Gourds' version of "Gin and Juice."
I've been trying to figure out if the Dynamite Hack version of "Boyz in the Hood" is actually ironic or if I've just been smoking out of the Alanis Morrisette crackpipe (makes you misuse terms like "ironic"). I think it might be some kind of comment on suburban kids who want to be gangstas, or something like that. It sounds really mellow and acoustic.
Whereas the Gourds' version of "Gin and Juice" is just fucked up. You listen to it and all you can think about is how much rednecks and gangsta rappers have in common. I think tenn_crichton called it "the Grundy County theme song." gamgee described the sound as "Hootie and the Snoopfish." I mean, it's got mandolins. Motherfucker. You just have to hear it to believe it.
Which is a better cracked-out cover of a gangsta rap classic?