A vacation taken by gay folk. Activities to include speedo wearing, sipping drinks with mini-umbrellas, many games of twister (with our without speedos) and perving at other speedo-wearing gayers.
See also holigay.
Shannon: What you doing this weekend, doll?
Guy: I'm going on vacation to Rio with Will for two whole weeks.
Shannon: Ooooooh a VAGAYTION!! How jubbly!!
When someone who is normally cool or chill suddenly turns whiny and into a complete bitch and pussy. This is shown often through pouting, complaining, and other symptoms.
Shut the fuck up Dobby, you're being totally vagational right now.
While Jessy is normally tolerable, when he didn't get the present he wanted he turned completely vagational.