What is the ruling on some people calling others "ya khawl," citing the hadith: "Your brethren are your khawl"?

The hadith is authentic, narrated by Al-Bukhari and Muslim.

The statement in question can only be judged within the context in which it is uttered. It might be used to refer to a homosexual, which is forbidden and considered one of the major sins, and could also be a slander necessitating a prescribed punishment (hadd).