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Definition of yay exclamation from the Oxford Advanced Learner's Dictionary

yay

exclamation
 
/jeɪ/
 
/jeɪ/
(informal, especially North American English)
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  1. used to show that you are very pleased about something
    • I won! Yay!
    Word Originexclamation 1960s: perhaps an alteration of yeah.adverb 1960s: probably a variant of yea.
See yay in the Oxford Advanced American Dictionary

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