b. The Letter "G"

The Blue Lodge Mason is taught that the "G" in the Masonic symbol represents God. Later on, he is told that it also represents "deity." Later still, he is told that it represents "geometry." In reality, this letter represents the "generative principle," the Sun-god and, thus, the worshipped phallus, the male "generative principle…" In its position (along with the Square and Compass) on the east wall over the chair (throne) of the Worshipful Master, it is the representation of the Sun, thus of the Sun-god, Osiris. Its earthly meaning, then, is of the sacred phallus; its cosmic meaning is of the Sun, worshipped since antiquity by pagans while facing the East. (See c, below).

c. The "G" and the "YOD"

The English letter "G" in Masonic symbolism is inseparable from, and identical with, the Hebrew letter "YOD." This "YOD" is the symbol on the Scottish Rite ring. "YOD" represents deity in general (its cosmic meaning), and the worshipped phallus in particular (its earthly meaning). Albert Pike wrote that the "G" displayed in English speaking lodges is merely a corruption of the "YOD" (with which it should be replaced), and that "the mysterious YOD of the Kabala" is the "image of the Kabalistic Phallus." (3) The "Kabalah" he refers to here is a medieval book of the occult, a highly mystical and magical interpretation of the Bible, (4) and important sourcebook for sorcerers and magicians. (5)

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Taken from this source : [link to www.watch.pair.com]

I have no idea as to the accuracy of these asasertions.