Green’s Dictionary of Slang

(Aus.) Victoria Bitter brand beer.

1997		Google Groups:alt.alcohol 23 May 🌐 VB tastes like cat’s piss on a warm day (VB stands for ‘Victorian Bullshit’) .
2016		Dave’s Beers of the World 11 July 🌐 Something that I find entertaining [...] is the acronyms people use with the letters VB, popular ones are Vomit Bombs, Very Bad, Vitamin B, Victorian Bullshit and even Vaginal backwash.