I'm surprised nobody's mentioned the portrayal of Geraldo Rivera in "A Million Little Fibers." If you didn't notice, they made him all faggy, complete with swishy wrists and gay accent (like Mr. Slave only more subtle).
I liked the way they worked his ego into the scene where his wall is covered with pictures of himself in exotic locations. Then the next scene has him in a room with a portrait of himself on the wall, and next to it a photo of him standing in front of a mural of Saddam Hussein in Baghdad.
Oh, and of course Geraldo broke into Larry King Live to announce that Stephen McTowelie was a towel, except that Larry King is on CNN and Geraldo works for Fux.