In S.E. Hinton's book "The Outsiders," "Socs" is the name for the rich, cool kids, and "Greasers" is what the kids from the wrong part of town are called. The book is set in the 1960s, and the two groups reflect the two different cultures of the time. The Socs are depicted as teenagers who wear preppy clothes and drive nice cars, and the Greasers wear leather jackets and grease their hair with pomade.
Hinton wrote the book when she was only 17 as a commentary on what she saw in her high school years. The lesson behind the story is that everybody has problems, whether they are rich or poor.