Some male cheerleaders might be gay, but not all of them. My dad would probably laugh at you if he heard you say that, because he was one of the first two male cheerleaders at Morehead State U., and he's definitely not gay!
For the record, male cheerleaders (or male ballet dancers, etc.) aren't pansies, either. They've gotta be in pretty good physical shape to do what they do! They sure have my respect.