She's such a sweet and cute person, that will always stand by your side when you need it. Gay always make good jokes, she's really funny, caring and cute, you can always talk any subject with her, she will always entertain you with her amazing sense of humour. I love Gay, and you should too, but like any person, Gay has mistakes. She might be very angry when you mess up, and is not very forgiving. But a nice and loyal friend.
Was there supposed to be a third definition that had something to do with homosexuality?
Sorry, but no. There's already at least one proper term for that, along with several improper and offensive ones.
So how about we stop ruining perfectly good words by attaching unnecessary sexual connotations to turn them into something dirty. There's enough gratuitous sexualization in this world already.
Girl #1: "Wow, I'm feeling so gay today!"
Girl #2: "Wait... don't you mean lesbian?"
Girl #1: "No, stupid, I mean I'm happy. It's got nothing to do with my sexual orientation."