This occurs when a guy denies the fact that he is gay (to himself and everyone else) for some time. Usually seen on conservative college campuses. These types have a flair for fashion, usually pop their pink Lacoste collars and take the time they spend in college to "date" chicks, but once they leave and spend a few years in the big city, they come out with their rainbow flags a waving.
Most people around the gay in 5 years guy know he is gay and expect to see him with a teal Jetta and Diesel manpurse at the 5 year class reunion.
The gay in 5 years guy loves MySpace and drink cosmos. He also exaggerates his likeness for women.