Hi-
If you check with the standards both male and females have their hair up in a top knot. I have a male, Matise, and I get flack about it to because everyone thinks he is a girl and I just inform them that the standard calls for both male and females to have a top knot.
Matise always has his up in just an elastic around the house but when we go out he knows the drill he has to wait and then I put a bow in his hair he doesn't care I think he thinks he looks handsome. I have put bows in his hair since I got him and he never bothers them
Here is the link and it talks about it under the coat.
http://www.akc.org/breeds/yorkshire_terrier/index.cfm
So I don't think you should feel bad and grow it out again if you want and put it up.
Kara and Matise