It's Sacha Baron Cohen personality Bruno with some jocky wrestlers having some homo-erotic fun. [The clip is a couple of minutes with all of the pay off coming at the end, but it's worth it if you stick around.]
The various anti-gay "Fags go to Hell" protesters have been around long enough that you figure by now some gay folk have probably shown up at one of their protests and come on to them. And they have. And here is the video.
Eurotrip was one of those teen movies that transcended the genre and was actually good. The whole movie was good, and this scene with an overly agressive homosexual was plenty funny. "Miscusi. Miscusi."