It's universally accepted as not homosexual because you are only touching your friends elbow, but may be the most intimate non-gay act among two men as they are assisting in the ever beautiful act of masturbation.
...or you're just jerking off your friend.
Dude 3: Well, we could always do the Double Dutch Rudder
Dude 1: Sounds like a plan!
Dude 2: You know how I know you guys are gay? Your about to do the Double Dutch Rudder.
Dude 3: That's Gay?
Tushka: Dude, let me shave one of your legs with my razor and I'll join in to give you a double dutch rudder. Ray can grab your arm and I'll move your shaved leg.