That's Mister Fag to You!

Ashlee Simpson's baby-daddy is out and proud...sort of.

Pete Wentz is this month's coverboy for OUT magazine.

Mister Wentz explains himself and his comments from times past in which in he's coyly joked he is "half-gay" and "anything from the waist up is fair game."

In the multi-page article, he describes himself as "the guy next door...but just a little off."

So how did all the gay rumors get started for the emo guy next door?

"Whenever you say that homophobia is stupid, you just get called gay," says pretty-boy Pete. "Homophobia is the last acceptable hatred.”

The Fall Out Boy front man confesses, "When I’m going down the street I get called a fag all the time...We have iPhones, and I’m still getting called the same names as when I was 13."

Apparently Petey loves pushing people's buttons and pushing the envelope. He thrives on the controversy about his sexuality. And it's served him well thus far.

Why does he dress and act like he does? Why does he wear black eyeliner? Why does he lick the neck of his bandmate's guitar during concerts?

"It’s all because I know I’m going to get a reaction -- but it’s all things that I believe anyway. I don’t get on stage and give a social diatribe. I am a performer and an entertainer."

He goes on to say that the gay community today is being treated in the same way the black community was treated during the separate but equal Jim Crow era. And he believes legally recognized gay marriage is inevitable.

In my opinion, the most confusing thing about Pete's sexuality is that he actually impregnated Ashlee Simpson. If sleeping with Ashlee didn't make him swear off the ladies, then nothing will.

Truthfully, all jokes aside, Pete Wentz is one classy guy.