Teachers can really make or break a class, and a bad one can totally distract you from what you are there to do, which is learn. You don't say why you dislike this particular teacher so much, but it's obviously causing a problem. Has the teacher done anything wrong specifically to you, other than read the back of your book that one time? Has he proven to be an incompetent teacher somehow? You might want to try to figure out what it is that makes you feel so strongly about this particular teacher, and see if anything can be done to change your mind. Maybe talking with your parents, a guidance counselor or the school principal would be helpful if there is a legitimate reason for why you think the guy isn't a good teacher. If it's just something irrational and there's no real reason why you dislike him so much (which can happen sometimes), you could ask about transferring out of his class into another one once your suspension is over. It may be a better solution than staying in the class.

However, if you can't transfer out of the class, you have to figure out what is best for you and how you can get through the rest of your time there. Although it may be hard to think of it this way, consider thinking of this class and teacher as just temporary things to deal with until you can move on to something more interesting. He really is there to help you learn more and move forward in your studies. If you can concentrate on the work you have to do for the class and what you are trying to learn, this can help you get the credit and grade you'll ultimately need to move on from this class, and to leave this teacher behind.

Also, no matter what you think of your teacher, it's never a good idea to write that someone is "fucking gay." It just makes you look like you don't know how to deal with problems effectively other than writing slurs about someone--and, as you have found out, it's concrete evidence that someone can use against you.