"gay" in that sense is a pejorative against homosexual people. You could almost make it work with the original definition though. From Wikipedia - > Gay is a

"gay" in that sense is a pejorative against homosexual people. You could almost make it work with the original definition though. From Wikipedia - > Gay is a term that primarily refers to a homosexual person or the trait of being homosexual. The term originally meant 'carefree', 'cheerful', or 'bright and showy'.