YG is cooking up a new music "situation" with his friends DJ Mustard and Ty Dolla $ign.

The West Coasters are launching a record label, YG revealed in an interview with radio personality Devi Dev, of Houston's 93.7 The Box. "We got a situation it's about to occur, you feel me? Pushing the label," he said. "Ty own part of it, Mustard own part of it, I own part of it. So you know it's about to get real, right?"

Without giving away too many secrets, the Compton rapper touted the forthcoming imprint as a throwback to a different time in rap music. "We about to bring back that … when Snoop and [Dr.] Dre and them had they labels … Jay Z … when they first started off… We 'bout to bring that back," he promised.

"I remember growing up, what I was seeing and looking at on TV, it ain't [like] that [anymore]," YG continued. "We 'bout to get back to that — I'm 'bout to get back to that. That's what I'm in for, I'm in it for that."

Currently, the "Who Do You Love" rapper is signed to Jeezy's CTE label family. His debut album, My Krazy Life, which dropped last month, is executive produced by Jeezy and has sold over 100,000 copies.

Mustard, who is signed to Roc Nation, produced the brunt of the release. Additional My Krazy Life producers include Ty and Terrace Martin.    

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(Photos from left: John Ricard / BET, Angela Weiss/Getty Images, Bennett Raglin/BET/Getty Images)