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3.
A phrase that I'd badly like to use without being accused of being a homophobe.
Person #1: We'll have a gay old time!
Person #2: HOMOPHOBE!
by Common Sense Kid June 30, 2013
 
1.
What Fred Flintstone and Barney Rubble were having when Wilma and Betty were out
We'll have a yabba dabba doo time

A dabba doo time

We'll have a gay old time!
by JCJ August 29, 2006
 
2.
1) To have a very jovial experience, such as with the intake of weed or alcohol.

2) Used by Mr Burns in the Simpsons to describe an event he had when he was younger.

3) An event pre-dating the present and that involved homosexual behaviour.
1) By jove, this Vodka is insubstantial compared to the hydro we were just smoking. But, of course, it does enhance the experience. Ah, what a gay old time we're having.

2) Oh, well, when I was six, my father took me on a picnic. That was a gay old time! Oh-ho, I ate my share of wieners that day.

3) Hey, Oscar Wilde, I hear ya've been having a gay old time down at the Gentleman's Writer club.
by Rory December 18, 2004
 
4.
see lemonparty. When gay old men have a gay old time.
My grandpa had a gay old time with other grandpas in my bed, daddy!
by Smoky McBongwater August 15, 2006