Pete Wentz goes "out" from the closet

For its August 2008 issue, OUT Magazine has Fall Out Boy frontman and Ashlee Simpson's hubby Pete Wentz on its cover.

On an in-depth interview with the said gay magazine, Pete Wentz talks about his sexuality and considers himself a "fag".

"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," Pete says.

"There is a sense of self-empowerment or recapturing who you are by people calling you 'fag,' and being like, 'Yeah, I am a fag.' Even though you're not. What does somebody respond? That dude has nothing to say about that again.”

Pete, who is an expectant father, also shares about kissing men.

"When I said that I make out with dudes, there was a slight sense of sexual rebellion in that. And I probably even made it a bigger deal than it was," he says

He also confesses that he had his first kiss with a guy when he was with 16 and the last time he did it was 7 years ago. He's now 29.

And how about his male celebrity crush? He admits having a big stupid crush on John Mayer.

Pete also talks about his "equipment".

“I really don’t think it’s an attractive quality. That’s what it comes down to. I don’t even like my own. Like, I really don’t like it. I don’t like anything about it.”

PETE WENTZ' FASHION PHOTOS FOR OUT MAGAZINE