Be feminine if you want to be feminine, don't be if you don't want to be.
That's the attitude most feminists I know have. Saying that, there is a loud/outspoken minority who dislike femininity in women. I can't quite understand that reasoning.
Second wave feminists late 60s-80s were full of haters of the feminine, hence the 'obese dungaree-wearing lesbian' homophobic stereotype of the 80s of feminists. The justification for this was that second-wave fems and to a lesser extent first-wave fems regarded any conformity to the traditional 'feminine' role as willingly being a slave to patriarchy, therefore not a feminist by default. <- should answer your question on feminists rejecting the feminine
The rest of this is me ranting
Third wave feminists are more about feeling oppressed by what remains of the objectification and repression of their gender role, and advertising the freedoms of a much less sexist society (the 'girl power' movement of the 90s, cf. Spice Girls etc.). This is not to say society was no longer chauvinist, but women did have relatively greater social equality and opportunity e.g. in the professional sphere by the 90s.
[side note to explain the reason imo for current gender wars]
Spoiler
Some of the 3rd wave feminists are stereotypically 'feminine' in appearance and/or personality, others are not. As a whole the 2nd wave rejects femininity, the 3rd wave embraces the aspects of it which are not obviously rooted in objectification. In particular the 3rd wave was known to reclaim women's sexuality and objectification as a positive force independent of the whims of men and the patriarchy. Hence, the increasingly liberal dating market and relationship sphere. Beyonce's 'All The Single Ladies' was iconic of modern 3rd wave feminism, as is the 'strong independent black woman' meme. The term 'slut' is now a social taboo and although the 'slut/stud' double standard still exists, this and other manifestations of lad culture-these are good things!
Spoiler
Break it down
1) Most feminists accept femininity in women as both a strength and weakness, just as masculinity is. Rather they don't categorise positive and negative traits by gender!
2) Most women want to act sexually feminine but socially/professionally masculine. Most women do not feel threatened by women acting masculine, because they have the choice.
3) Most women want men to act sexually masculine but socially/professionally egalitarian (women are sometimes attracted to professional masculinity, but very few find social masculinity attractive since it often comes with arrogance). This is what women mean by 'a real man, a gentleman'. A sensitive gent at dinner, a gladiator at work, a beast in bed. It is a minefield tbqh
4) Some women accept and are even attracted to feminine men/NASGs
5) Some men have a dominatrix fetish and are attracted to sexually masculine women.
6) The LGBT community is pissed off by the gender wars
edit: would like a certified feminist to give my opinion an appraisal as I hope I am not spouting BS/internalised misogyny despite my many comments on the subject!