When normally heterosexual guys or girls get drunk (wasted) and accidentally make out or hook up with the same sex.
"Man, last night I got sooooo gaysted! There are photos up on facebook of me and Bertha doings shots of Slippery Nipples and making out. Do you think I should detag them?"
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(pronounced "stray-sted") When normally homosexual people get intoxicated to the point that they accidentally participate in sexual activity with the opposite sex.
Ellen: "Dammit, I was so drunk last night that I accidentally touched a penis."
Guin: "God, ew, Ellen. Way to switch teams on us!"
Ellen: "I was straigh-sted!!"
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