What is Gayfabe?
From "kayfabe" (a term used in Professional Wrestling and carnivals, meaning a "work") an act of feigning gayness, so as to manipulate or contrive social situations. Commonly, a straight man pretending at being gay so as to curry the favour of real gay men, or to better position himself in romantic interests involving women who are known to rebuke the advances of heterosexual men.
Look, Robbie, if I'm nice enough to bring you to my dealer's house, the least you could do is play along with my Gayfabe. He'll stop discounting if he finds out he can't lay me!
Oh, Julia? She's a bitter 3rd-year feminist studies major trying at being dyke. But, she'll take a dick if you gayfabe it just so for a couple weeks at first.