1. Homosexual, for a man to be in
love with a man. Commonly referred as a women and a women being in
love, how ever that is known as being
lesbian.
2. Used as an insult, being referred to as bad. Usually used by a homophobe, however many nonhomophobic people have come to use this term as well.
3. To be happy, or in a good mood. This is rarely used as someone could easily think you mean you are being gay for some period of time, suggesting you are not strait.