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An event where one comes out or is outed as a homosexual.
The family was very surprised at Thanksgiving when Ian seemingly turned it into a gay out and revealed he was a homosexual.
gay out by Jack Harris May 8, 2006
jimmy:i dare you to steal that candy bar.
timmy:but, what if i get caught?'
jimmy:don't gay out on me.
gay out by *Sheena* May 26, 2005
To go out and have an outrageous time.
Use it to refer to any good times that are gay and fun.
"Hey, lets call Christine and Seth and go gay out at the club."

The other day I said to Frank, I said, “Hey, want to go gay out at Magoos?” We gayed out with two pitchers of beer.
gay out by Tom November 11, 2006
To flirt with no end; to casually bring in flirting while being serious. Usually a player or fuckboy /fuckgirl would be known to do this.
Yeah I gayed out at the party last night.

That girl over there is known to gay out.
Gay out by Player.gay November 14, 2018

Getting the gay out 

When you have to dance, sing, and act very gleeful, which in turn releases any potential gayness from the body.
*Radio is playing Kelly Clarkson*

Friend1: Are we really listening to this, and are you fucking dancing?

Friend2: Just getting the gay out bruh! It was starting to boil over.

Gay'd Out 

When a heterosexual person is overwhelmed by too many gay things.
I went to see Rent on Broadway and then my wife wanted to watch a Barbara Streisand movie. By the end of the night, I was totally gay'd out.
Gay'd Out by SpecialK34 December 15, 2009