Prague, in Czeck 'Praha', doesn't have a gay village. The bars etc are spread around town, but most are in Praha 1 (Old & New Town), Praha 2/10 (Vinohrady), and Praha 3 (Zizkov), which are areas in the center of Prague.
Prague is the capital and largest city of the Czech Republic. Situated on the Vltava river in central Bohemia, it is home to approximately 1.2 million people. Nicknames for Prague have included "city of a hundred spires" and "the golden city". Since 1992, the historic center of Prague has been included in the UNESCO list of World Heritage Sites.
Most of the gazillion tourists who stroll across Prague’s most-famous landmark don’t realize it, but the Charles Bridge was built for a king who may have been a “queen.” Charles IV, who was the backer of much of Prague’s exquisite 14th-century architecture, is believed by gay Czechs to have been one of their own. Prague, it seems, has been gay-friendly for a very long time. 

August 13th to 19th. 2012 - Prague Gay Pride - Web site
Mezipatra - Queer Movie Festival - Web site

Prague's Top Attractions