Am I right and are these the lyrics to the song?
Yes Melissa, those are the lyrics. Back in the early 1980's, this song was frequently performed in drag shows. I have the original soundtrack to Dreamgirls on LP.
Hopefully the screen version of Dreamgirls will renew interest of some of these great songs.
NOTE TO JESS: At first, I felt the same way you do Jess. I felt Jake was poking fun at the gay community and I felt a little hurt. But, after I thought about it I realized that SNL is parody and this is to be expected. Besides, Jake looked great in drag!
We have to laugh at ourselves sometimes. It was just a bunch of innocent fun.