Ghay/Gh@y is like calling something gay but without anything homosexual about it. Used to either call something worse than gay or to bypass a language filter ingame.
1. Worse than gay.
1. Dude, thats ghay, not gay.
2. Bypassing a language filter.
Billy: Wtf *** hacks...
Billy: er.. ghay hacks
*Johnny has been banned for aim-botting*