A combination of the words "gay" and "ironic." A coincidental situation that leans toward homosexual traits.
Dude #1: "Check it out! Me and Will wore the same shirt! How ironic!
Dude #2" "Isn't that, gay-ronic?"
Two men wearing the same shirt, jeans, watch, shoes, etc etc
Hey look, me and Tom wore the same shoes today, how ironic.
Don't you mean "gay-ronic" ?