Jeez that's stupid. No it does not mean your gay. Which ear you get pierced can not say weather you are gay are not. People just said that to add more Stereotypes to the world and its stupid.
Nope, not at all. It's a stereotype that homosexual men wear single earrings, but there are plenty homosexuals who wear no earrings, and plenty heterosexuals who wear single earrings, regardless of which ear it is.
"hey guys, the thing with the earring...it OVER!, we used to wear earrings to piss off the squares, but now the SQUARES, are wearing them"
-George Carlin