Pronounced nnn-ice with a strong emphasis on the rolling N at the beginning. Gnice is used to exclaim absolute joy in a given situation and is usually said at a louder-than-needed voice to ensure everybody knows just how gnice something is. It can also be used as a male greeting call at long distances.
Dude 1- Yo, I finally renewed my Xbox Live Subscription so we can play C.o.D again.
Dude 2- GNICE!!!!!!
Something thats so nice that it needs a G. Pronounced guh-nice
David: "Yo man, last night i got with like 10 chicks"