Children's Protection Act of 2001 - Exempts from Federal antitrust laws any collaborative efforts by or among persons in the entertainment industry to develop and disseminate voluntary guidelines designed to: (1) alleviate the negative impact of television, movies, video games, Internet content, and music lyrics containing violence, sexual content, criminal behavior, or other subjects that are inappropriate for children; or (2) promote telecast material that is educational, informational, or otherwise beneficial to the development of children. States that such exemption shall not apply to any efforts which: (1) result in a boycott of any person; or (2) concern the purchase or sale of advertising.