“Gay” in two or three senses of the word. If you wondering what a gay South Korean imitation of the Power Rangers series (or is it the gay South Korean version of Mexican Wrestling?) would look like, take your chances:
I didn’t get the magnets part, so maybe it isn’t a reference to the Koreas at all (the link comes from a blog page* with uncredited photos). So maybe it’s… um, a really strange science show?
b. Its a joke. Those are [comedians](http://en.wikipedia.org/wiki/Downtown_no_Gottsu_Ee_Kanji). Its supposed to be funny. I know those crazychinks (as your picture so charmingly puts it) are always getting up to wacky hijinks, but let`s not be unrealistic here.
c. I have seen gay Japanese super hero action, and I can assure you, it involves a lot more spandex and also penises.
Incidentally, the video is of the same comedy ‘troupe’ (mostly just Matsumoto and Hamada and whatever younger comedians they own the contracts of) that produced the N-S skit.