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Just as how mayday is a distress call in voice-procedure radio communications, maygay refers to the emergency of when a gay dude DM’s you.
Example #1:
Oracio: So you talking to any bitches after you got rid of that yee yee ass haircut?
Me: Maygay maygay! No bitches on my dick, only guys.

• • • • • • • • • • • • • •
Example #2:
*messaging friend on Instagram, then gets a DM notification*
Me: *takes and sends screenshot* Aw fuck maygay.
Friend: Damn
Maygay by Newerth December 14, 2018
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An either ironic or extremely wrong pronunciation of "meme" depending on the context, in similar fashion to the "frageelay" gag in A Christmas Story. Suggests (1.) obliviousness to Internet culture or a bad attempt to fit in. In its more common (2.) ironic usage, it's used to mock mainstream Internet culture, proliferation and exhaustion of memes, and other bad parts of the state of modern memes.
1. A: Look at my nice maymay, there's Doge and Dat Boi in it!
B: Stop trying to fit in with the Internet, you're the CEO of Delta Airlines FFS.

2. Nice maymay m8! (actually it's overused and dated, kys)
alt. 2. Look at this newfag and his beloved maymays. He's not even close to an acceptable memer.
Maymay by Egg F1337 January 6, 2017
Related Words
The term "Magayo" is used as a nickname, joke or any way to call a person named "Matteo" to be gay.

This term replaces the last four letters of Matteo "tteo" with "Gay" resulting in "Magayo"
Wow look at Matteo acting gay, people should call him Magayo.

Lol, Magayo is feeding bot lane... Again.

MacGayver 

verb. to utilize accessible but limited resources around
ones(gay)self to create something fabulous.

noun. someone who is one part Martha Stewart, one part Bob Villa, and one part MacGuyver that is able to utilize their talent and skill to create something fabulous out limited but accessible resources.
Todd whip into MacGayver mode and grabbed three camping lanterns, a couple of bungee cords, chiffon, and some zip ties to create not only needed but wonderful lighting over the picnic table at our campsite.
MacGayver by firebird71 July 22, 2009

Verosika mayday 

Stripper from helluvaboss
Oh verosika mayday she's that stripper int she
Verosika mayday by Susan helluvaboss November 30, 2021
Some people may be wondering why anybody would yell "May Day" when they are in trouble. Here is why:

It derives from the French "m'aidez", pronounced "mayDAY," and means literally "help me."
If you are in distress while flying an airplane, calling "Mayday mayday mayday" over the radio will give you top priority and any help people on the ground or in the air can offer.
mayday by Athene Airheart May 2, 2004

MacGayver 

verb. to utilize accessible but limited resources around
ones(gay)self to create something fabulous.

noun. someone who is one part Martha Stewart, one part Bob Villa, and one part MacGuyver that is able to utilize their talent and skill to create something fabulous out of limited but accessible resources.
Todd whipped into MacGayver mode and grabbed three camping lanterns, a couple of bungee cords, chiffon, and some zip ties to create not only needed but wonderful lighting over the picnic table at our campsite.
MacGayver by firebird71 July 22, 2009