The word "Gay" meaning the negative connotation of Homosexual and "Rider" is used as a nonsensical verb.
Person 1: was about to get this hot bitches number and then she told me she had a boyfriend.
Person 2: Thats Gay Rider!
Person 1: Yo we dont have tickets for the playoff game.
Person 2: Why not?
Person 1: Todd stiffed us and took someone else.
Person 2: Awww c'mon thats Gay Rider.