Exclamation used in gaming which expresses disbelief in what has just happened, that only in a world where everything is indeed, as Kurt Cobain once said, gay, could what has just happened actually happen.
A gay person who denies their gayness or pretends they are not gay. Like, lay away...they are already buying some of it or buying into it but aren't fully invested.
Ex. If you think they're gay, but they deny it. They're a gay-la-way.