When something is really awesome but you dont want to make it a long sentence. It's kind of like a short form for something really great.
"That guy is a G.T." meaning "That guy is F*&% Hott"
a "Good Time"
"The concert the other night was such a G.T., it was so much fun!"
"WHO IS READY FOR A G.T.!?!?!?!"
anybody with those initials are usually below 3 feet tall, extraordinarily wacky, loves their friends more than their significant other, will kiss their broski's, but not their lover.
someone: "dude that girl is kinda good looking bro."
someone else: "nah bro dont go for her, shes a G.T"