I suspect it's BS and just junk urban legend.
The link I posted is a video about the cheer and its supposed connection to slavery, it also is about the player, Lawrence Wright who popularized the cheer, “ if you ain’t a Gator, you must be Gator bait”, Wright happens to be a black player from the 90s who is from Miami.
The “gator bait” claim is pure bunkum.
Amos Moses, anyone?
Only he was a Cajun.
Amos Moses - Jerry Reed
https://www.youtube.com/watch?v=n7GyLr7Cz2g
I used to have a 45 of this. I wonder if I still do.
Now Amos Moses was a Cajun he lived by himself in the swamp
He hunted alligators for a livin’ he’d just knock ‘em in the head with a stump
The Louisiana law’s gonna get ya Amos
It ain’t legal huntin’ alligators down in the swamp boy
Now everybody blames his old man for makin’ him mean as a snake
When Amos Moses was a boy his daddy would use him for alligator bait
Tie a rope around his waist and throw him in the swamp ha ha ha
Alligator bait in the Louisiana bayou