Not gay but something close. It is a joking way of saying gay but doesn't
actually have to be refering homosexuality or anything of the LGBT+ community. Normally
used in a cute way.
It could also be used to refer to anyone in the LGBT+ community without specifying if they are homosexuals, transgenders, and others.
Something alike of
gay panic.
Omg I was gaing out a bit too much when I saw Ruby Rose and Weiss Schnee interactions-
Boi you gai out too much these days.
Becky(a
boy changed into a
girl, who likes girls), you a gai bish.