I'll start this off by saying if you genuinely believe player's deserve to be suspended for the things they say on the ice, in a sport where they are literally permitted to throw haymakers at each other's faces with only a slap on the wrist for it, you've got your priorities seriously twisted.
On Monday reports started surfacing suggesting that the National Hockey League was reviewing comments made by Chicago Blackhawks forward Andrew Shaw, specifically a homophobic slur he is alleged to have made during Game 4 against the St. Louis Blues on Tuesday night. Chris Kuc of the Chicago Tribuneconfirmed as much this morning after receving an e-mail from deputy commissioner Bill Daly.
NHL Deputy Commissioner Bill Daly said in an email to the Tribune on Wednesday, "yes we are looking into it, and no we can't comment on it until that process is complete."
Now it's worth noting that who Shaw directed the slur at may have played a role in the NHL's decision to review the play as well, the comment was reportedly directed at an official who Shaw had flipped off just prior to entering the penalty box, where he then yelled out the slur. The NHL does have a reputation for being overly protective of it's officiating crews, and is almost never critical of them even when the circumstances would deem it appropriate.
With all that said it would be a little silly to suspend a player for using a bad word, in a sport as physical as the game of hockey, especially one said during a game, on the ice when emotions are running high, but it would not be without precedent, the NHL has issued suspensions for derogatory comments and gestures in the past.