GPOY is an initialism that literally stands for, "Gracious, Picture Of Yourself."
It is most often used to describe gifs, web comics, or pictures that apply so directly to your life it seems as if someone took a picture of you and put it up on the internet.
It is the equlivlent of saying, "Holy crap, I do this all the time! It's like the took a picture of me!"
*While looking at a .gif on Tumblr showing a reaction to someone reading over your shoulder*
Person: Hahahah, this is so me!
Comment: Lol GPOY!
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