IGN's review of Homie Rollerz (2.0 out of 10) explains the "Homies" phenomenon pretty well:

""Homies" is a series of collectible figurines commonly found in capsule machines at Wal-Mart. Each figurine is their own little Hispanic stereotype. Dave Gonzales, the creator of the series, got in trouble by the Los Angeles Police Department for promoting gang life, so now all the Homies have positive messages in their bios. Those positive messages are "exemplified" by the officially licensed YouTube videos showing the Homies performing lewd sexual acts in public, using racial slurs, and picking up prostitutes. That's good, wholesome family fun right there, ese."

They're Homies, man. They're these little figurines you get out of the vending machines in some supermarkets. They're all 'gangstaz' or some shit. Near the border they're pretty popular.

Why they are making a half-assed clone of Mario Kart with 'respect' and 'pimping your car' is beyond me.

http://www.youtube.com/watch?v=HmsStPbvMWQ&fmt=6 - gameplay footage with a white man explaining how 'Homies Rollerz' is different from Mario Kart DS

All the Homies YouTube videos: http://www.youtube.com/user/homiesworld

Dr. Orpheus imprisoned rednecks in one of those.