Unsure when the first use of this word came about, it smashes together glorious, undefeated, and somehow ritzy, to create an entirely new term. Gluzzy is generally used in a positive manner to mean "cool" "awesome" or in passing as a general hello.
A hand sign of taking the right hand and forming a capital G is another form of the word and can be used as a hand wave.
As a Hello: Ayyyy Richard, Gluzzy!
Something is cool: Yo Marcus those new kicks are Gluzzy!
Slang for the person you are hooking up with.
Your friend when he sees the person you've been sleeping with: So uh, is that the person you're pouring the milk before the cereal with?
You: Yes it is.
Your friend: Noice.
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A reference to the show Spongebob Squarepants, where Spongebob give's his pet snail breakfast and says "serving it up, Gary's Way". Also refers to the act of taking a "study drug", eating, and drinking a caffeinated drink all at the same time.
You: I have a midterm tomorrow and I haven't studied yet.
Your Friend: Oh, so are you going to study Gary's Way?
You: Yes!