I don't think it has anything to do with sexuality, at least for me. I just go by what character, outfit, etc...that I like. Some happen to be men, some women, some androgynous, etc.....
I think this is more of a stereotype, but that has been said many times, seeing how old this thread is.
"All the while we been thinking you were a brilliant strategist, really you're just a lucky fool."
"I'm delicious, no one should taste this delicious!"
Derek Stiles and Victor Niguel-Trauma Center (Second Opinion version)
Mei Terumi (the fifth Mizukage) and Konan-Naruto (Manga version)
Lin Beifong and Tahno from Legend of Korra