Dude, bro, or guy. It is the most common way to address a friend or buddy in Mexico, often used as a filler word similar to 'man' (originally derived from the word for ox, it transitioned from an insult to a term of endearment).
What is up wey? Yesterday wey I ran into your girl. Oh man wey, I feel like shit.
In Mexico, this is a common way to address young people, whether they are friends or strangers. While older generations often consider it a vulgarity, for younger people it is a neutral filler word used like dude, guy, or bro (it is the Mexican equivalent of terms like chamo in Venezuela or pibe in Argentina).
Hey wey pass me the homework please. I do not know that wey but... Wey you should start doing your homework already.
A slang term for a gay man, used as a euphemism to avoid derogatory labels, based on a phonetic similarity to the English word gay. (Note: In Mexico, wey almost always means dude or buddy, but this entry describes a specific euphemistic usage).