'Light in the loafers ...'
An old slur said about effeminate guys was that he was 'light in the loafers'.
Note how Toms room mate imitates Toms walk - obviously inspired by the 'stereotype'.
The term never made sense to me back in the day because anyone who had that kind of walk was usually just 'goofy' looking and I never heard any guys intimate that these few were effeminate or gay.