This article reviews friendship research to offer a conceptual framework that helps us better understand the co‐constructive nature of gender, sexuality, and friendship in the United States. Scholarship across psychology and sociology considers friendship experiences, friendship processes, friendship patterns, friendship schemas, and the social implications of friendship. Psychological research identifies that friendship experiences and friendships processes differ by gender and explores the social implications for individuals. While sociology has dedicated less attention to friendship, this perspective offers insights on the social construction and structural basis of friendship. Sociological perspectives reveal how friendship schemas—based in amatonormativity, heteronormativity, and gender essentialism—shape friendship experiences, friendship processes, and friendship patterns in gendered ways. In addition, sociological research examines the social implications of friendship at both individual and institutional levels, documenting friendship's roles in systems of inequality. Thus, I argue that a sociological perspective is necessary to fully grasp how societies in general and cultural understandings of gender and sexuality in particular, shape and are shaped by friendships.