Homophobia is an enduring issue within schooling contexts internationally. This paper attempts to rethink homophobia from the perspective of heterosexual students' accounts of bearing witness to it. Within the existing literature it has been LGBTQ students who have held the responsibility for naming and recounting homophobia. This paper re-orients this conventional account by positioning heterosexual students as its narrators to see what this might reveal about homophobia's operation at school. While this strategy does not disrupt the 'othering' and 'victimization' of LGBT youth in these stories, it has other effects. When heterosexual students name homophobia as unjust, it is possible to see the instability of the victim/perpetrator binary that typically structures these accounts. Narratives of participants in this study did not fit neatly into this binary, revealing its inability to capture the complexity of homophobia's operation. To have any hope of effectively addressing homophobia at school, we need to move beyond the victim/perpetrator binary. This is because it masks some of homophobia's more nuanced moves, such as targeting difference, rather than sexual identity exclusively.