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Although in the past many discussion have been made about the meaning of the acronym, to date the best hypothesis, and the more reasonable even if not directly confirmed by any official document, is that's a simple reference to the ''Monteiro Guimarães'' initials, "M" and "G" that in Portuguese are pronounced exactly ''"eme"'' and ''"ge"''. Whether it was a real official name is, however, confirmed the order shown in the figure on the right, where there is an explicit request from the marking ''Emegê'' on the top of the cap.

Although in the past many discussion have been made about the meaning of the acronym, to date the best hypothesis, and the more reasonable even if not directly confirmed by any official document, is that's a simple reference to the ''Monteiro Guimarães'' initials, "M" and "G" that in Portuguese are pronounced exactly ''"eme"'' and ''"ge"''. Whether it was a real official name is, however, confirmed the order shown in the figure on the right, where there is an explicit request from the marking ''Emegê'' on the top of the cap.