Not to be confused with gunk-eye, this is an exclamatory expression used under any number of appropriate circumstances. There is no clear-cut definition of when to use this word, and however appropriate it is to state this word is to be determined by the speaker. However, if caught saying it in a poor situation, the speaker may be subject to humiliation by his/her peers.
Dewd: Hey. HEY! You got PIzzOwned!
Dude: Haha, no. You did! Gunkai!
note: best spoken in either a South or East Asian accent.
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