Spanish speakers: What the heck are these guys singing about?

Factual Questions
1

I have no idea how I stumbled upon this on youtube but this is killing me.

What the heck are these guys singing about?!

I kind of dig the song BTW, even tho’ I don’t know what the hell they are singing about.
http://www.youtube.com/watch?v=ujVnSJfMsL4

2

I’m not fluent in Spanish but it seems to be Hungarian/Gypsy music.

3

Mods, if you see this can you make a better tittle that might get better hits? I’d appreciate it if you would.

4

I GoodSearched the singers’ names. In 5 pages of hits, not one was in English. The phrase Hungarian Gypsy appeared in several. “Magyar” was also in several, and I think that means the same as Gypsy.

5

Magyar means Hungarian.

6

Hungarian people is what comes up with Wikipedia when I typed in Magyar. And the Wikipedia front page has Magyar as one of the languages from which to choose.

7

Googling around it seems like Bango Margit is or was some sort of Gypsy icon, but there aren’t any sites in English that describe who she is.

8

This site is a biography. Run through an internet translator, it seems that she was a Gypsy born in eastern Hungary in 1950 and was discovered by a radio station talent contest as a teenager, and has been a rising international Gypsy singing star ever since.

ETA: I’m guessing Bangó is the surname, Margit (=Margaret) the first name.