1) By jove, this Vodka is insubstantial compared to the hydro we were just smoking. But, of course, it does enhance the experience. Ah, what a gay old time we're having.
2) Oh, well, when I was six, my father took me on a picnic. That was a gay old time! Oh-ho, I ate my share of wieners that day.
3) Hey, Oscar Wilde, I hear ya've been having a gay old time down at the Gentleman's Writer club.