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1. Used to express sexual attration or intent if used in the most explicit form.

2. More likly used as an exclimation of sorts ranging from displeasure to approval.

Originated from the Quagmire character on the TV show Family Guy. He uses the word in the first manner. As a note this word is hardly used along, instead it tends to repeat itself several (commonly two or three) times in a row.
"Gigity gigity Gig-it-y!" --Quagmire
Gigity by Xhelix March 12, 2005
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when dat hott chick bent over, i said gigity
gigity by sumguy8 June 22, 2010
The accumulation of pornography on a computer hard drive is becoming known as a gigity. I have four video gigities and three asian gigities.
gigity by Josh C Brown April 22, 2006
Wow that's sexy; that was extremely arousing.
"She is going wild! Gigity."
Gigity by Quagmire45 January 20, 2009
Well its a combination of gity and goody basicly its a combo and u get gigity!
Andrew: hey look at her ass. god damn!
Cris: Gigity Gigity Gigity
Gigity by tha paradox August 28, 2006
just said when ever you are in a good mood or have drank to much.
gigity by Mike August 22, 2006