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Source : Free On-Line Dictionary of Computing

         A 100 {MBps} {Ethernet} standard specified to run
        over four pairs of {category 3} {UTP} wires (known as voice
        grade, hence the "VG").  It is also called 100VG-AnyLAN
        because it was defined to carry both {Ethernet} and {token
        ring} {frame} types.
        100BaseVG was originally proposed by {Hewlett-Packard},
        ratified by the {ISO} in 1995 and practically extinct by 1998.
        100BaseVG started in the IEEE 802.3u committee as {Fast
        Ethernet}.  One faction wanted to keep {CSMA/CD} in order to
        keep it pure Ethernet, even though the {collision domain}
        problem limited the distances to one tenth that of {10baseT}.
        Another faction wanted to change to a polling architecture
        from the hub (they called it "demand priority") in order to
        maintain the 10baseT distances, and also to make it a
        {deterministic} {protocol}.  The CSMA/CD crowd said, "This is
        802.3 -- the Ethernet committee.  If you guys want to make a
        different protocol, form your own committee".  The IEEE 802.12
        committee was thus formed and standardized 100BaseVG.  The
        rest is history.