Words at Play : 17 of the Finest Words for Drinking
Definition:
: inferior whiskey or other strong liquor
Example:
Have you never heard of a kind of gin
That makes 'em fat as well as thin,
That makes 'em tight as well as loose?
Have you never heard of Slangy Sleuce and his bug juice?
Lewis Bond, One Year in Briartown, 1879
About the Word:
The disambiguation page for bug juice found on Wikipedia helpfully provides several possible applications for the term. These include the United States Marine Corps' slang for insect repellent; extremely sweet drinks often found at summer camps; the alcoholic definition found at the beginning of this entry; and the name of a children's television show that ran on the Disney Channel from 1998-2001.
Perhaps the Disney Channel picked this title after finding that Rotgut and Plonk were already taken.