Once used as a derogatory term for ginger people, ginger pubes has evolved into a standard greeting to all ginger people. Some more esoteric variations include
carrot crotch,
red rug,
rusty nuts and of course singing "ginger pubes, ginger pubes" to the tune of "Peggy sue". Can also be pronounced ginga poobs when the joke gets tired.
Phil: oi oi
ginger pubes! how's it hanging?
Simon:
not three bad mate, how's you now?
Phil: sound, mate, sound. (sings):
GINGER PUBES, GINGER PUBES, GINGER GINGER
GINGER G-G-GINGER PUBES, OH GINGER, YOU GINGER PU-U-UBES!"
Simon: I'm gonna stab you tonight.
Phil: Not with that sunburn you won't,
carrot crotch!