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Gay Tony is the main character in Grand Theft Auto: The Ballad of Gay Tony, which is where the name comes from. He is also an adrenaline junkie. Doing the "Gay Tony" means to do something like jumping from a high place, but making it look as badass as possiable (eg, spinning while falling etc) People also tend to sing Gay Tony's song while doing this.

The Gay Tony started to become noticed when the Youtube user UberHaxorNova Gay Tonyed twice while playing Minecraft.
John: Hey I'm gonna do The Gay Tony into that pool
Sam: Go for it!

Chris: Paul is going to Gay Tony off that bridge!
Liam: I'm watching!
by SophieThePirate August 24, 2011
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