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This is a mispronunciation of the word "funny." It is used mainly by trendy fucks that are trying way too hard to be cool. These are the same fools that use abbreviations like "lol" and "wtf" in everyday spoken conversation.
Guy: LOL! The Hangover was so funnay!
Other guy: God damn it! You fool!
funnay by Not Funnay January 14, 2011
intentionally wrong spelling of funny, for something, that isn't.
ho ho ho.. you're sooo funnay...
funnay by jMCg July 14, 2005
Funny.. often used with other intentionally mispelled words...
j00 r teh funnay!
funnay by Omega May 7, 2003

Funnyass 

You are mad funnyass.
Funnyass by Flint Johnson October 10, 2003
another way to say “funny”, just in a more creative and dumb way to say it.
Anahi is so funnay with what she says or does.”
funnay by random280 August 29, 2021
Yo, dude that guy was funnAyO!
funnAyO by ghetto_boody August 16, 2006