'Oxford Gay' is a gay label/clique, similar to that of bears, cubs and twinks.
An Oxford Gay is a gay man who exhibits the following characteristics:
1. A guy who is neat, educated and well traveled;
2. A modern man who encapsulates the yesteryear british gentleman.
Marc: Hey Richard, we all know you're a muscle bear - what do you think I am?
Richard: You're charming, neat and smart so an Oxford Gay I would think.