Well when you say gay, you don't really mean gay. I've called many people gay in anger, not because I hate gay people but as an insult, strange when I look at it with some objectivity calling someone gay just seems weird. Not just in the calling of someone gay but also how they would react when teased in such a way. Hmmmmm...
Dude kids can be pretty cruel, we had three big guys turning a kid upside down and shaking him.. I forget why, was so long ago. And a big fight happening between two grades because one kid called another one pizzaface (he had acne.. everywhere) I was the grade above those in question, so my grade didn't do anything. Are you sure you went to school? Of course it was schoolyard crap, nothing about gay or anything, if you were gay you just tended to hang out with girls, and no-one bothered anyone.