A Sugar Baby is a slang term for a female or male (usually pretty young adults) who is financially pampered/cared for by a 'Sugar Daddy' (usually much older than the Sugar Baby) or 'Sugar Mama' (usually much older than the Sugar Baby) in exchange for companionship.
Sugar Babies are not ageplayers, are not adult babies, are not littles, and are not in a Caregiver/little dynamic in this regard despite the similarities in name. They are not the same as what we think of as adult babies at all. They do not experience littlespace or age regression. The terms reference a large biological age gap (and financially supportive bond between that of a parent and child) between the younger and older parties involved in the lifestyle choice.
A Sugar Baby can also be a little, and a Sugar Daddy can also be a Daddy Dom, but those two life choices do not blend into one or are regularly associated to each other. It's similar to saying someone enjoys drinking tea and drinking soda--they aren't necessarily or often mixed together but they can be enjoyed equally by the same person. Our community here is just not for paid or bought intimacy just like an online community for fans of various tea types may not be targeted to discussions about Coca Cola or Pepsi.
Nonetheless, Sugars are very closely related to escorts. Escorts often will exchange money for 'companionship'--sometimes sexual favors but not strictly. Many times Sugar Babies do the same thing and receive gifts for their time or intimacy. The Sugar Daddy chooses to financially support or spoil them as long as they go on dates with him, do sexual favors, are overly flirtatious to them to provide attention, or anything else they mutually agree upon. This is not a power-exchange or Dominant/submissive relationship, but, rather, a paid or financially supported type of temporary companionship.