I have considered it, but I made sure the way I act is also very appropriate. I did not do anything that could be counted as for or against gay people and I even took the opportunity once people talked to me about my costume to explain that I was not teasing gay people in the least. This was my reasoning to them:
What do people dress up for as Halloween? Things that scare and things they adore- why else would people dress up as movie characters that they like? I explained my reasoning because I love gay people.
The thing about me dressing up like that is that it was not too extreme in any way. Some people can be found wearing a lot of the clothes I wore, so one kid even told me he realized there was not that much of a difference in the way a gay guy dressed and some other kids did. Obviously, that's not the only reason people are homophobic, but at my school at least, appearance is the main one.
And I ran into a few gay kids at my school and they all loved my costume. They said it was really well-thought out and cute. The good thing about it is, it is not totally obvious (actually I could pass for a prince/pirate) and people will not fully get the concept unless they ask me, in which I am careful to express I am not trying to be offensive in any way.