A polay is a panzy who doesnt want to admit that he/she is a panzy. A polay is a panzy who eats burritos, and eats at chipole grill. a.k.a a cross between a panzy, polay, and a polar bear. So really a good definition for Polay is a decline cycho panzy who eats burritos at chipole grill who thinks he/she is a polar bear on a really cold iceberg eating a clondike bar.