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The word is actually "touché". It's French for "touch". As used in fencing, it represents scoring a point. Your definition is close, but no cigar; your spelling is atrocious.
Toshay is a bad guess at the spelling of touché.

"You ignorompus!"

"The word is "ignoramus."

"Touché"
toshay by David A. Mills March 6, 2008
Related Words
A misspelling of the french word "Touché". Originally a fencing it meaning "touch" which is called out when one scores a point, it has since become used to acknowledge a quick, appropriate verbal response.
vphvadim: So I submitted Tushay to Urban Dictionary today!
SuperJosh: Don't you mean "touché"?
vphvadim: Tushay Josh, Tushay.
tushay by SuperJosh January 17, 2008
Pretty much a fancy word for saying 'good reply' or 'that's quite a good comeback'. Usually said to a person or persons after they had a good comeback equivalent or better to what you said.
Dave: "I had sex with your mom!"
Tim: "Well i had sex with your sister, your mom, AND your dog at the same time!"
Dave: "tushay Tim....tushay."
tushay by vphvadim October 11, 2006
a word used to express nothing to say after an insult? pronounced: 'to-shay'
If you are white and your friend is Mexican, you can say "You're a dumb mexican who mowes lawns", then your friend says "You're a dumb white slave owner", You would say "Toshay"
toshay by erik cifuentes November 16, 2006
1. A lazy Internet slang way of saying "Touché".
<random1>: ur ugly
<random2>: ur face is ugly
<random1>: tooshay
tooshay by dagzor November 18, 2009
1. Slang for agreeing with someones opinion.

2. The simpler way of spelling touche, because no one knows how to spell that.
Man one says to man two at a horse race, "Trust me, I'm never wrong about the winning horse."
Man two responds, "Except last Tuesday, when you convinced me to place twenty grand on the horse that broke his leg in the race."
Man one reflects and says, "Tushay."
Tushay by Coda lilac May 13, 2012