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1.
Something gussied up has been made more attractive, but in a showy or gimmicky way, so it’s often not intended to be a compliment. It can also refer to dressing in one’s finery for some special occasion, when it is intended to be taken more straightforwardly. It is usually considered to be an American expression, dating from the late 1930s or thereabouts.
"I have a hot date tonight, time take a shower and get myself all gussied up."
by DesperadoXD April 08, 2005
 
2.
adverb. A phrase implying that you are dressed sharp, or stylishly; like a homosexual might dress - but still staying true to your gender. (not to be confused with cross dressing - which is to dress as the opposite gender)

Usually only applied to males.
eg 1: Since were all be gussied up, maybe we should go out for an expensive dinner too?

eg2:
Dan: Look at you! You're all gussied up - What's the deal?

Stan: Joanne's bringing were hot flatmate Jessica, and she's worth getting all gussied up for.

Dan: I heard she was taken.

Stan: Really? Well I bet he doesn't look this good.
by thunderbuns October 12, 2005