Brian from DCFanatic.com recorded the above audio during Eagles wideout DeSean Jackson's June 30 appearance on the All Out Show with Rude Jude and Lord Sear. (It airs on Sirius XM's Shade 45—an Eminem-branded hip hop channel—and is uncensored, if you're interested.)
In it, you'll hear DeSean not take too kindly to one of the calls, from Troy in Tennessee. Troy asks if DeSean's "had his dick knocked in the dirt [indecipherable]," before the call ends. According to the invaluable Urban Dictionary, knocking one's dick in the dirt entails knocking someone down or out—maybe even giving someone a concussion?
Jackson replies, "What type of question is that? Say 'no homo', gay-ass. Faggot."
Now, we don't know whether DeSean assumed "dick in the dirt" was some sort of reference to gay stuff—it could be!—or whether DeSean was just particularly cranky then. Maybe Troy's inaudible bit crossed a line that we don't know. Sirius XM sent us a clear 15-minute bit from earlier in DeSean's stint—he was DJing and taking more calls—but, alas, nothing to limn this exchange.
UPDATE: We spoke with "Rude" Jude from the All Out Show, who said that he hopes Jackson doesn't apologize—that Jackson was bantering with the callers, "is a hood dude," and for "hood cats, the worst thing you can call someone is a bitch or a faggot. I don't think he's homophobic. He's joking."