Gey is a good thing, gay can mean stupid or homosexual while Gey(always used as if it's a proper noun) is good. Gey can mean cool, awesome, amazing, really anything good. It's the opposite of the word gay.
Me: Dude you're so Gey!
Other person: Dude I'm for sure straight!
Me: No Gey with an E not an A!
Other person: Ohhh thanks man your pretty Gey yourself!