Quay is the mixture of the words queer and gay. In the world today, people use the words "queer" and "gay" to discribe something that they don't like. It has nothing to do with homosexuals. So, if someone really doesn't like what the're seeing the use that word "quay".
Sally comes up to Betty and says," Hey, I'm in love with your boyfriend." Sall says under her breath," That is so quay."